Phil Bruce has left London Stock Exchange (LSE), where he
was head of strategy.
Bruce, whose role originally included oversight of
development of LSE's derivatives business, EDX, had seen that
role diminished following the hire of Nic Stuchfield as head of
EDX London. According to LSE, Stuchfield also has
responsibility, outside EDX, for "corporate development, an
area that includes strategy, research and business
Market sources indicated that Bruce had fallen out of favour
due to his support for a tie-up with Deutsche Börse, and
was sidelined following Stuchfield's appointment a year
A deal with Deutsche Börse or rival Euronext has been
mooted for some time, but neither has come to fruition to date.
The LSE board is thought to have gone cool on the prospect of a
merger, and a move to shift clearing from LCH Clearnet (LCH-C)
to Eurex Clearing was shelved last year after LCH-C offered a
substantial fee discount.
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