The Business On... Xavier Rolet, Chief executive, London Stock Exchange
Tuesday 26 October 2010
He doesn't sound much like a City blue blood, does he?
He's not: Mr Rolet is a Frenchman, hired 18 months ago to give the London Stock Exchange a kick up the backside. And the takeover of the Australian exchange by Singapore demonstrates how much that is needed. The exchange wars are back on. Still, although he grew up in a relatively tough suburb of Paris, there is now a whiff of the City establishment about Mr Rolet – he counts Lehman Brothers and Goldman Sachs among his previous employers.
Don't the French want to pinch the City's business?
Maybe, but Mr Rolet is not part of the conspiracy: he is much more interested in the LSE's bottom line. And, as he will no doubt tell today's Treasury Select Committee hearing into City regulation, he wants less red tape, not more of it, as many of his continental European friends have been asking for. Too much regulation will stifle financial services and the economy, he will say.
A force to be reckoned with?
Beware the quiet man, you might say. Softly spoken and disarmingly charming, Mr Rolet is nonetheless a tough cookie, and not just in business. He successfully completed the Dakar rally last year, a feat that gets the better of many amateur competitors (though he is not planning to compete again – the cost of insuring the boss of a FTSE 100 company is prohibitively expensive).
Goodness, an action hero?
Well he does say an expensive diving timepiece is his favourite gadget in the world. On the other hand, he is an amateur beekeeper – they can sting, we know, but it's not exactly James Bond.
And what do his compatriots think of him now?
It's hard to say. No doubt they like the idea of one of their own infiltrating the system, but Mr Rolet has some funny ideas. He owns vineyards in southern France but doesn't think much of the fusty French appellation d'origine contrôlée system. His wine is branded, New World-style – and look out for Chêne Bleu, which has won international prizes.
- 1 Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
- 2 Replica Back to the Future Hoverboard released
- 3 Gamers confess the worst things they've done in The Sims
- 5 Modern society encapsulated in five seconds
Senior male nurse filmed himself raping unconscious women in A&E
Costa Concordia: Shipment of Mob drugs was hidden aboard cruise liner when it hit rocks off Italian coast, investigators say
Iran nuclear talks: Prospect of deal with Iran pushes Saudi Arabia and Israel into an unlikely alliance
Revolting recipe from the Dark Ages may be key to defeat MRSA
Jeremy Clarkson 'could be given minder' ahead of a potential Top Gear return
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
The West has it totally wrong on Lee Kuan Yew
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
£35000 - £38000 per annum: Recruitment Genius: This dynamic outsourced contact...
£19000 - £21000 per annum: Recruitment Genius: An excellent opportunity for a ...
£28000 - £32000 per annum: Ashdown Group: Group HR Advisor with an established...
£40 - 50k (DOE) + Bonus: Guru Careers: We are seeking a HR Manager / HR Genera...