Xavier Rolet

Xavier R. Rolet KBE (born 12 November 1959) is a French businessman and the chief executive officer (CEO) of CQS. He is the former CEO of the London Stock Exchange Group.[1][2] He was named in the 2017 Harvard Business Review's List of the Best 100 CEOs in the World and is a frequent keynote speaker at business events.[3][4][5][6] Rolet is an advocate for supporting start-ups and the funding of SMEs to promote innovation and job creation.[7][8]

Xavier Rolet KBE
Rolet in 2015
Born (1959-11-12) 12 November 1959
Aix-les-Bains, France
NationalityFrench
Alma mater
Columbia University Graduate School of Business (MBA)
IHEDN
KEDGE Business School

Early life

Rolet was born in Aix-les-Bains, France.[9] He is the eldest of three children born to military parents. His early life was spent in Algeria and France.[10] After graduating from the KEDGE Business School with an MSc in management science and finance in 1981,[11] he served as a second lieutenant and Instructor at the French Air Force Academy, earned an MBA from Columbia Business School in 1984[12] and a post-graduate degree from Paris-based IHEDN (Institute of Advanced Studies in National Defence) in April 2008.[13]

Career

From 1984–1994, Rolet worked at Goldman Sachs in New York and London.[9] At Goldman, he started on the international arbitrage desk in New York.[14] Then he joined Credit Suisse First Boston as Global Head of European Equities in 1994, working there until 1996. After that, Rolet worked at Dresdner Kleinwort Benson from 1997–2000 as Global Head of Risk and Trading.[15]

He then worked at Lehman Brothers from 2000–2008, in New York, as co-head of global equity trading, in London, as head of European and Asian equities, and in Paris, as CEO of Banque Lehman Brothers.[16] He joined the Board of the London Stock Exchange in March 2009 and became CEO in May.[17] Rolet is noted for transforming the London Stock Exchange during his time as CEO.[18][19] He pioneered the ‘Open Access’ model which revolutionised and opened the Exchange Industry’s traditional vertical silos and is now enshrined in the new MiFIR European legislation which took effect on January 3, 2018, allowing customers to pick and choose which parts of the exchange they want to use, and also embarked on £3.5 billion of deals.[20]

Under his leadership, the London Stock Exchange Group acquired MillenniumIT (2009), Turquoise Holdings Ltd (2010), FTSE Group (2011), TRS (2011), GATElab Srl (2012), EuroTLX Srl (2013), LCH.Clearnet (2013), Bonds.com (2014), Exactpro (2015), XTF (2015) and the Frank Russell Company (2014) from Northwestern Mutual, the Asset management arm of which was sold in October 2015 to TA Associates and Reverence Capital Partners.[21] In 2016, he acquired Mergent, Inc. and the Yield-Book & Citigroup’s Global Fixed Income Index Business from Citigroup, making FTSE Russell the largest Index Company in the World with ca $15 Trillion of Assets under benchmark. As per data released on 8 January 2018 by LCH,[22] London Stock Exchange Group's regulated entities traded, cleared and settled in excess of $1 Quadrillion of notional contracts and securities, making the London Stock Exchange Group one of the very largest financially systemic Institutions in the World.[23][24][25]

In October 2015, LSE Group launched Curve Global, a new Futures Exchange co-owned with Barclays Bank, Bank of America, Citi, Goldman, Sachs, Societe Generale, BNP Paribas and the Chicago Board Options Exchange.[26][27] In March 2016, the company announced it had reached an agreement with Deutsche Boerse AG to merge. The merger attempt was blocked by EU Regulator stating "The Commission's investigation concluded the merger would have created a de facto monopoly in the markets for clearing fixed income instruments".[28]

He took the firm from £800 million to £14 billion in value during his tenure and was ranked as one of the best 100 CEOs in the world in 2017 by the Harvard Business Review.[20][29][30]

In November 2017, Rolet announced that he would be stepping down as CEO of the London Stock Exchange Group.[31] Under his leadership, the value of London Stock Exchange Group rose from ca £800 Mln to £14Bln shortly before the announcement of his departure.[15][20]

In April 2018, it was announced that Rolet would join the board of PhosAgro as a non-executive director.[32]

In November 2018, it was announced that Rolet would join the Board of Verseon as a non-executive director.[33]

Rolet was a keynote speaker at the first European Securities and Markets Authority conference that was held in Paris.[6]

Rolet delivered an address at the St Petersburg International Economic Forum.[34] He was a panellist at the Bank of England’s Open Forum event.[35]

Rolet contributed an article, Making capitalism popular again: learning the lessons from Lehman,to the Labour in the City Anthology, which was published in October 2018 to commemorate ten years since the Lehman Bros bankruptcy and launched at the City Corporation by Alistair Darling.[36][37] On December 21, 2018 it was announced that Rolet was appointed as the new Chief Executive Officer of CQS (Asset Manager), an $18 Bln Alternative Asset Management Company founded in 1999 by Michael Hintze

Awards and appointments

He was a board member of LCH.Clearnet and MTS Group and is a member of the board of overseers of Columbia Business School,[38] a former vice-chairman of the World Federation of Exchanges WFE, an honorary fellow (FCSI/Hon) of the Chartered Institute for Securities and Investment CISI and a member of Her Majesty's Treasury's Financial Services Trade and Investment Board.[39]

Since October 2017, he is a member of the Committee of Expert Advisers at the Department for International Trade. He was a member of Prime Minister David Cameron's Business Advisory Group,[40] and is a member of the Governor of the Bank of England's Financial Services Forum and of the Bank of England's Open Forum.[41] In October 2015, he was appointed an Honorary Knight Commander of the Order of the British Empire (KBE) by Her Majesty Queen Elizabeth II.[42]

In December 2015, he was appointed Echansonnier 'A Camera Paramenti ' of the Echansonnerie de Châteauneuf-du-Pape. He was made a Knight of the National Order of the Legion of Honour of France in January 2016.[43] In 2016, Rolet was listed by UK-based company Richtopia in the global list of 500 most influential CEOs in the world.[44]

In July 2016, Rolet was made an Officer of Morocco's Royal Sharifian Order of Al-Alaoui (Order of Ouissam Alaouite).[45][46]

In 2017, Debretts named Rolet in their list of the most influential people in finance.[47] He appeared in the Evening Standard list of London's 1,000 most influential people for several years.[48][49][50] He was named in the 2017 Harvard Business Review's List of the Best 100 CEOs in the World, was awarded a 2018 Lifetime Achievement Award by Risk magazine[51] and the 2017 Lifetime Achievement Award by Futures and Options World.[52]

In December 2017, he was awarded the Order of Friendship of the Russian Federation (Орден Дружбы).

Personal

He has competed in several editions of the Dakar Rally, finishing 82nd (out of 575 crew on the starting line) in the 2009 edition with co-pilot Jean-Louis Juchault.[53]

Rolet is the co-founder of Chêne Bleu wine, which is produced at La Verrière in France.[54] Rolet renovated the estate and replanted vines during the mid-90s. Chêne Bleu is run by Rolet’s wife, Nicole.[55][56] The wine went in to production in 2006 and the first reds were released in 2010.[57] Journalists have since dubbed Chêne Bleu as the first Super Rhône.[58] It is made to organic and biodynamic principles.[59][60] Every year La Verrière hosts an Extreme Wine course, which takes place over a week and includes a series of lectures and tastings.[61][62]

gollark: Take cars. Lots of people have cars, which are giant heavy metal boxes designed to move at high speeds. Those are dangerous. Lithium-ion batteries can explode or catch fire or whatnot. Maybe future technology we all depend on will have some even more dangerous component... programmable nanotech or something, who knows. *Is* there a good solution to this?
gollark: That sort of thing is arguably an increasingly significant problem, since a lot of the modern technology we depend on is pretty dangerous or allows making dangerous things/contains dangerous components.
gollark: Or change them.
gollark: I'm not saying "definitely allow all weapons" (recreational nukes may be a problem), but that it would be nice to at least actually follow their own laws.
gollark: Do you think they would give you bear arms if you asked nicely?

References
  1. "LSE Names Xavier Rolet as New CEO, Replacing Furse (Update3)". bloomberg.com. Retrieved 15 April 2015.
  2. "Jim Armitage: A hard act to follow just as the City is in its direst n". Evening Standard. Retrieved 3 January 2018.
  3. "Up Close Lecture with Xavier Rolet - The University of Liverpool". alumni.liv.ac.uk. Retrieved 7 March 2018.
  4. "EVENT: Transitioning Brexit for the Benefit of the Real Economy - Xavier Rolet, CEO, London Stock Exchange Group". New City Agenda. 14 September 2017. Retrieved 7 March 2018.
  5. Austin, Sue. "Stock market boss in Shropshire". www.shropshirestar.com. Retrieved 7 March 2018.
  6. "ESMA conference examines the state of European financial markets". www.esma.europa.eu. Retrieved 4 September 2018.
  7. "Europe's debt bias chokes small business and job creation". Financial Times. Retrieved 7 March 2018.
  8. Rolet, Xavier (5 February 2017). "Our markets subsidise the debts of big business while starving small companies of capital". The Telegraph. ISSN 0307-1235. Retrieved 7 March 2018.
  9. "Xavier Rolet: London exchange chief drives the rough road". The Independent. 5 December 2010. Retrieved 3 January 2018.
  10. Louise Armitstead (14 March 2009). "Xavier Rolet heralds new epoch at London Stock Exchange". Telegraph.co.uk. Retrieved 15 April 2015.
  11. "Le patron français du London Stock Exchange partira avant le Brexit". La Tribune (in French). Retrieved 3 January 2018.
  12. "Xavier Rolet: 'When you grow up in a poor area, you think opportunities are for others'". Evening Standard.
  13. "Xavier Robert Rolet". Businessweek.com. Retrieved 15 April 2015.
  14. "FACTBOX-Key players in Canada's TMX takeover battle". Reuters. Retrieved 15 April 2015.
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