Hedge fund manager CQS hire former LSE chief Xavier Rolet as new CEO

Hedge fund management firm CQS has appointed former London Stock Exchange chief Xavier Rolet as its new CEO.

Rolet, 59, will begin his new role at CQS in the new year, allowing the company's founder Sir Michael Hintze, 65, to focus on running money as a senior investment officer.

The London-based manager has grown by almost $4bn to $18.1bn this year, with much of that coming from its long-only portfolios, which are now bigger than its hedge funds in aggregate. 

“CQS has a strong platform from which to grow. It has a great brand, investment management platform and talented people. I am very much looking forward to working with our teams to grow the firm in a rapidly changing environment for investment management," Rolet said.

Hintze, who has known Rolet for over 35 years having worked together in finance during the early stages of their careers, called the company's latest acquisition "one of the best CEOs I know".

“I am excited that Xavier is joining us and very pleased that we have been able to attract a CEO of such calibre who will help establish CQS for the long-term," said Hintze. "He has the experience and has demonstrated he knows how to build financial services businesses.

"This will allow me to dedicate my time to investment management, leading our investment teams and client engagement."

Rolet left his job at the LSE Group in contentious circumstances last year, after being asked to step down by the board a year earlier than planned in a bid to end a row with shareholders.

The Frenchman played a key role at the LSE Group during his eight-year tenure, overseeing the company's business diversification and transformation into a critical provider of financial markets infrastructure.

Since leaving that role, Rolet has also joined boards at pharmaceutical Verseon Corporation and fertiliser company PhosAgro​.