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Markets

London Stock Exchange CEO to leave by end of 2018

Xavier Rolet, chief executive officer of London Stock Exchange Group

Xavier Rolet, CEO at the London Stock Exchange Group, will leave by the end of 2018.

A Regulatory News Service filing by the stock exchange said its board is initiating a process to find a successor to Mr. Rolet, who has led the group since 2009. The board will work closely with Mr. Rolet to ensure a smooth transition process as it continues to execute on its growth strategy.

Under his leadership, LSEG's market capitalization has grown to 14 billion ($18.6 billion) from 800 million. The exchange agreed to acquire Russell Investments in 2014. It kept Russell's index business and in 2016 agreed to sell the money management business.

"I am extremely proud of all we have done together in just under a decade to turn LSEG into a truly global financial market infrastructure group," said Mr. Rolet in the filing. "By adhering to our core values of partnership, innovation, open access and integrity, we have shown the hugely positive contribution capitalism can make to all of society."

Spokesmen could not be reached for comment.