LSE's Rolet earns £1m-plus bonus

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Xavier Rolet earned a higher bonus than his predecessor in his first year at the helm of the London Stock Exchange.

The former Lehman Brothers executive, who took over in May last year, booked a performance related bonus of more than £1m, whereas Dame Clara Furse earned a bonus of £648,000 in her final year as chief executive in 2009. Figures from the LSE's annual report also showed that Mr Rolet's salary was £650,000.

Writing in the report, Mr Rolet said that although the exchange had made progress over the past year, "in many cases, the fruits of our labour to date have yet to be harvested".

News of Mr Rolet's bonus come after the LSE, which has been losing market share to cheaper, alternative platforms such as Chi-X and BATS, posted a 19 per cent fall in full-year earnings last month.