LSE asks MWM to find new chairman

The London Stock Exchange has appointed MWM Consulting, the headhunting company run by Anna Mann, to help it find a possible new chairman.

The exchange wants to appoint a new non-executive director who could be groomed to take over from the long-term incumbent Chris Gibson-Smith. He is in his third three-year term as chairman and is not expected to seek a fourth.

John Varley, who is set to step down as Barclays Bank's chief executive next year, is a possible contender, as is Roger Carr, the chairman of Centrica. The LSE, which also owns the Milan bourse, is poised to further strengthen its board with a new Italian director.