Euronext’s Roland Bellegarde Said to Plan Departure Before IPONandini Sukumar
Euronext NV is poised to lose one of its top executives as the European stock-exchange operator prepares to be spun off, according to three people familiar with the matter.
Roland Bellegarde, who was head of markets and international listings, may leave as soon as next month, according to the people, who asked to not be named because the information isn’t public.
The executive, a 28-year veteran of the company, represented Euronext at the European Securities and Markets Authority, the markets regulator for the European Union. He’s led the exchange through a series of projects starting with the computerization of the Paris bourse in 1986 and the integration of its four markets from 2000. Bellegarde was on NYSE Euronext’s management committee when Atlanta-based IntercontinentalExchange Group Inc. bought the company last year.
Caroline Nico, a spokeswoman for Euronext in Paris, and ICE’s Claire Miller in London declined to comment.
Bellegarde is leaving as ICE prepares to divest Euronext. ICE Chief Executive Officer Jeff Sprecher is trying to sell a stake of as much as 30 percent of the European exchange before separating from the division through an initial public offering, three people familiar with the matter said last month. Sprecher was in Europe with ICE Chief Financial Officer Scott Hill last week meeting with potential investors, according to two people familiar with the matter.
This isn’t Euronext’s first management change as it prepares for the spinoff. Euronext named Anthony Attia the CEO of its Paris stock market last month. Lee Hodgkinson became head of its markets and global sales teams and will become CEO of Euronext London. Amaury Dauge was appointed CFO.
Mark MacGann, a senior vice president and head of European government affairs and public advocacy, also plans to leave Euronext, the three people familiar with the matter said. He joined Euronext in 2010 from Weber Shandwick, a public relations and lobbying firm, where he was CEO of the Belgian business and head of public affairs for Europe, the Middle East and Africa. He was formerly Director General of DigitalEurope, the trade group that represents digital technology companies including Apple Inc., Hewlett-Packard Co., Intel Corp. and Nokia Oyj.
MacGann led NYSE Euronext’s efforts on Mifid, the EU’s bid to revamp its markets legislation. He also led the exchange’s efforts to get European regulatory approval for the ICE deal and the attempt to persuade EU regulators that its planned merger with Deutsche Boerse AG in 2012 wouldn’t stifle competition.