Hiring outsiders at the London Stock Exchange (Update)

Today, the FT reckons it's ex-Lehman Bros Xavier Rolet taking over at the London Stock Exchange (LSE). 

Xavier sat on the LSE's strategy group and headed Lehmans' French business.  He was a senior relationship manager for Lehman Brothers when he was based in London, and led relations with the exchanges across Europe, including Euronext and the Deutsche Bourse.

Prior to joining Lehmans, he had been an equity trader at Goldman Sachs and previously with Dresdner Kleinwort.

Original posting from 8th January:

Interesting conjecture over at the Financial Times that Dame Clara Furse, CEO of the London Stock Exchange, will be succeeded by an outsider. 

Two top names in the frame are Alasdair Haynes, Chief Executive of broker ITG; and Bob Wigley, the departing European Chairman of Merrill Lynch.

This is based upon the trend to pick CEO outsiders at most Exchanges:

• The Toronto Stock Exchange chose Thomas Kloet, formerly of broker Fimat;
• The Chicago Board of Trade appointed Bernard Dan, formerly of Cargill Investor Services; and
• NYSE Euronext chose Duncan Niederauer, a Goldman Sachs guy, to replace John Thain (also Goldman).

Whoever gets this job has a bit of a challenge after the battering of the LSE over the past year.

Comments

[bing wilson]

Want to know the reason why Clara Furse contract has not been renewed.
How many company has up their revenues and profits so consistently for so many year ? And in very challenging economic circumstances !.
Well, what does the board replace her with . An ex stock broker --no matter what title it comes in still an ex stock broker and ex Lehman . Wow! what a decision from a bunch old fuddies club-- the board.

[Chris Skinner]

Actually Bing, it's because Dame Furse has not kept up with the post-MiFID environment which Mr. Rolet is being targeted specifically to address.

See:
http://thefinanser.co.uk/fsclub/2008/11/the-battering-o.html

Chris