Xavier Rolet, the former chief executive of the London Stock Exchange Group, turned down an approach to lead Thomson Reuters’ giant trading division, according to people familiar with the situation.

Financial News has learned that Rolet, 59, who left the LSE after a bitter boardroom battle in November, was approached by the company’s acquirer Blackstone Group for the top job. It is unclear when the approach was made. The private equity firm is leading a consortium that agreed to buy a 55% stake in Thomson Reuters’ Financial & Risk division in January for $17bn.