…His successor will inherit a company facing the political challenges of the UK’s departure from the European Union hanging over it while markets rapidly evolve to encompass new technologies such as blockchain.

“He’s had a great run but it’s going to get a lot more difficult for the LSE,” says Niki Beattie, head of Market Structure Partners, a capital markets consultancy. “The LSE board will have to play a crucial role in thinking about the challenges the exchange will face.”

When the 57-year-old announced his retirement from the 319-year-old institution for a second time, he stressed there would be no immediate change to LSE’s strategy. “The fact that I’m going to be here for some time means it will be business as usual,” Mr Rolet told analysts…