TCI calls for Brydon to resign

SIR CHRISTOPHER HOHN’S activist investor TCI Fund Management called for the chairman of London Stock Exchange, Donald Brydon, to step down amid claims chief executive Xavier Rolet was being forced to leave.

TCI, one of the largest activist hedge funds in Europe, which owns more than 5pc of the exchange, is said to have asked LSE to suspend its search for a new CEO and extend Mr Rolet’s contract to 2021. It said it would call a shareholder meeting should Mr Rolet not remain. It claims Mr Brydon was behind the decision to “remove [Mr Rolet] as chief executive” and demanded he resign. LSE and Mr Brydon did not respond to requests for comment.