Xavier Rolet, the former French head of Lehman Brothers, undoubtedly has his work cut out when he takes over from Dame Clara Furse, the long-time boss of the London Stock Exchange, on May 20. But the chief-executive elect, whose appointment was first reported by Financial News last week, may not be taking over the poisoned chalice that some might think.

The LSE has certainly had a tough ride over the past 14 months and has been one of the highest profile companies to be hit by the financial turmoil as a result in large falls in trading.