The new Chief Executive of the London Stock Exchange (LSE), Xavier Rolet, can’t be said not to have a hinterland.

He is a car lover — he recently took part in the Dakar Rally — a competent skier, scuba-diver and fly-fisherman. He is said to keep bees, studies architecture and has rebuilt a vineyard in France.

A further string to his bow involves part-authoring the Galileo Report on the European programme to create a satellite system that improves on GPS. He easily slots into the category labelled, Renaissance Man.

He takes over the reins of the LSE in May, although already sits on the Board. It will be challenging. The LSE has already lost up to 25pc of its business to new arrivals on the scene under European legislation.

Rolet declares, “The stress in the financial system is naturally going to lead to a more global, financial system with truly international governance. As a major part of the infrastructure, exchanges are going to play a big role in this. We have a responsibility to provide issuers and investors with liquidity in the best, fastest and most reliable way.

“We will review our fee structure, costs and our technology and ensure that we are prepared for the new global financial economy. Clients want simpler infrastructure — much of the new diversity among the competitors has just brought chaos and more costs. We don’t mind the competition. We have one big advantage: London which is a natural centre of finance. This is a strong brand.”

He will need all his resourcefulness and energy to make his mark in the present financial jungle.

They are big shoes to fill, but in choosing Frenchman Xavier Rolet, the London Stock Exchange has picked someone they know, who advised them on how best to defend the exchange against predators.

With Clara Furse’s departure set for May, Rolet begins his stint on the 20th. He said, “[The London Stock Exchange's] stategic position is unique and its business prospects excellent.” After nine years at Lehman Brothers, he will clearly be looking for more stable employment going forward.

Chris Gibson-Smith, Chairman of the London Stock Exchange, is believed to be discussing the recruitment of a successor to Clara Furse, its gritty Chief Executive. The LSE is said to be using the services of a leading City search firm to oversee the appointment process.

There is apparently no formal timetable for Furse’s departure but she is unlikely to leave before next autumn at the earliest, and may even remain in place beyond the end of next year.

“Clara has been with the Exchange for eight years and it is natural that the board is thinking about succession planning,” said an insider, quoted by the Sunday Telegraph. “She remains fully committed to the completion of its integration with Borsa Italiana,” which the LSE merged with in 2007.

This move has come as a surprise in the City. During her time in charge, she has defended the LSE against a string of hostile takeover bids, earning her the nickname “Queen Clara”.

“Each of the bids was pitched above its current share price. The approaches included one from Macquarie, the Australian banking group, another from Nasdaq, the American technology exchange, and one from Deutsche Borse.”

Her determination to keep the LSE out of the clutches of foreign predators has, ironically, led to closer ties with overseas exchange groups. Large chunks of the London exchange are now owned by shareholders from the Middle East, while last year’s takeover of Borsa Italiana was one element of a wave of consolidation which has swept through the exchanges industry in the last two years.”

Successors are thought to include Massimo Capuano, the deputy chief executive of the LSE group, Doug Webb, the recently recruited chief financial officer, and Martin Graham, director of equity markets, who has led the growth of Aim, the LSE’s successful junior exchange.

The LSE has declined to comment on the search for Furse’s successor.

Clara Furse, the first woman Chief Executive of the London Stock Exchange, has been honoured in the Queen’s Birthday Honours list as a Dame Commander of the British Empire (DBE), “for services to the financial services industry”.

Clara Furse, LSE Chief Executive.

Mrs Furse, who successfully saw off unwanted takeover approaches for the exchange from Nasdaq, Deutsche Borse, OMX and others, will receive the equivalent of a Knighthood for her efforts.

Other business leaders recognised in the awards with Knighthoods include Michael Snyder, the former Chairman of the City of London Corporation’s policy and resources committee, and Moir Lockhead, who transformed the regional bus company, FirstGroup.