May 22, 2014 / 1:21 PM / 4 years ago

UPDATE 1-ICE says NYSE CEO to leave earlier than expected

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May 22 (Reuters) - IntercontinentalExchange Group said Duncan Niederauer, chief executive of NYSE Group, would leave earlier than expected due to the rapid integration of the two companies.

Exchange and clearing house operator ICE bought NYSE Euronext for more than $10 billion and completed the acquisition in late 2013.

Niederauer, who served as CEO of NYSE since 2007, would continue as president of ICE until August, ICE said in a statement on Thursday.

ICE said Thomas Farley, chief operating officer of NYSE, would succeed Niederauer, taking the title of president of NYSE Group, with immediate effect.

NYSE Euronext had said in October that its Chief Financial Officer Michael Geltzeiler and General Counsel John Halvey would leave shortly after the completion of the sale to ICE.

Atlanta-based ICE was established in 2000 and grew quickly through a series of acquisitions. The acquisition on NYSE gave ICE control of Liffe, Europe’s No. 2 derivatives market, and help it expand into the interest rate futures business.

Shares of ICE closed at $192.19 on the New York Stock Exchange on Wednesday. (Reporting by Avik Das in Bangalore; Editing by Savio D‘Souza)

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