London Stock Exchange Group PLC said COO and Chief Information Officer Chris Corrado will leave the group at the end of the first quarter of 2020.

David Shalders will succeed Corrado as COO in addition to his responsibilities as chief integration officer and member of LSE's executive committee.

Meanwhile, Anthony McCarthy, chief information officer of clearinghouse unit LCH Group Holdings Ltd., will assume the same role for the group. He will also join LSE's executive committee.

The company noted that the appointments of both Shalders and McCarthy are effective Jan. 1, 2020.

LSE's statement follows a Financial Times report that the group was looking to replace Corrado in an effort to turn around the underperforming trading technology unit.