Ex-London Stock Exchange chief executive Xavier Rolet is stepping down as chief executive of asset manager CQS after just a year, the company said today.
Rolet will step down as chief executive next month but will remain with the business as an adviser on strategy and client development.
Chief financial officer Serge Harry, who worked with Rolet at the LSE, has been appointed deputy chief executive.
Billionaire investor Micahel Hintz, who founded CQS, will retain his role as group executive chairman and senior investment officer
“We have benefitted hugely from Xavier’s drive and business acumen and have made significant progress during his tenure as CEO,” Hintze said in a statement.
“As strategic adviser, Xavier will continue to provide the firm with strategic direction and advice, and use his network to help us with client development.”
Rolet’s plans to step down were first reported by Bloomberg.
Hintze said CQS had performed well in 2019, increasing assets under managemtn 12.5 per cent to a record $20bn (£15bn).
He said performance so far in January had been “strong”.