American Schwimmer, 49, will start on August 1 after a 20-year career with US banking giant Goldman Sachs, the LSE announced in a statement.

"It is an honour and privilege to be asked to lead London Stock Exchange Group," Schwimmer said.

"It is both an iconic institution and a great business. Having worked with exchanges and other market infrastructure companies for much of the past 20 years, I have been impressed by its strong track record of partnering with customers to deliver innovative solutions."

Frenchman Xavier Rolet had stood down as LSE boss in November 2017 after a reported boardroom struggle on concerns over his management style.

David Warren, who has been standing in as interim chief executive, will stay on as finance chief.