LSE's head Rolet to retire after merger with Deutsche Boerse

LSE's head Rolet to retire after merger with Deutsche Boerse

LONDON – The chief executive of the London Stock Exchange, Xavier Rolet, is to retire after a planned merger with German rival Deutsche Boerse that will see the combined firm have its main listing in the British capital.

The group would be a UK Plc domiciled in London, but would also be listed on the Frankfurt Stock Exchange, the firms said in a statement on Friday, and would have headquarters in both cities.

Governance of the firm would be split between executives from both the LSE and Deutsche Boerse, with Deutsche’s Carsten Kengeter assuming the role of CEO, with Donald Brydon as chairman and David Warren as chief financial officer. Brydon and Warren are both currently with the LSE.

Given a British vote on European Union membership in June, the firms said a joint committee had been set up to advise on the implications of vote to leave.

The firms also said they expect a “significant opportunity”for revenue synergies after the deal and would set out further synergies in due course.

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