The proposed shake-up of UK listing laws has "nothing to do with Brexit" and is "long overdue" to ensure that London's capital markets can attract the country's best companies, according to the former chief executive of the London Stock Exchange.

Xavier Rolet, who led the London Stock Exchange Group for eight years until his departure in 2017, told Financial News that the proposals by Lord Hill for overhauling the UK listings market have long been  needed to make the City more competitive.