The deputy chief executive of the London Stock Exchange, Massimo Capuano, has quit the group just three months after he was stripped of his role as head of the UK exchange’s post-trade services.

Capuano, who is also the chief executive of Borsa Italiana, resigned from the LSE Group this week but he will continue to sit on the supervisory board of the Italian exchange until June. The exchange said he would retain this role for a period due to his "unparalleled experience of, and high standing within, the Italian marketplace". Many Italian banks are shareholders of the LSE group following its merger with Borsa Italiana.