CQS, a credit-focused hedge fund firm, has hired Xavier Rolet to take over the chief executive officer role from its founder.

Rolet, the former CEO of the London Stock Exchange, will begin his new role on January 14, according to a statement Friday from CQS. He's replacing founder Michael Hintze, who will become executive chairman and continue to work as CQS’s senior investment officer.

CQS, which had $18.1 billion of assets under management at the start of this month, invests in such areas of the market as corporate credit, structured credit, and asset-backed securities. Rolet will free Hintze to focus on managing investments for the hedge fund.

“This will allow me to dedicate my time to investment management, leading our investment teams and client engagement,” Hintze said in the statement. “I have a passion for markets. I enjoy problem solving and puzzles, and markets are one big puzzle.”  

A spokesperson for CQS did not respond to an email seeking additional comment. 

Rolet served as CEO of the London Stock Exchange for eight years before stepping down in November 2017, according to the statement. Before that, he was the chief executive of Lehman Brothers in France. Rolet had joined Lehman in 2000 after a stint at Dresdner Kleinwort Benson, where he served as the global head of risk and trading.

“He has the experience and has demonstrated he knows how to build financial services businesses,” Hintze said in the statement. “As CEO he will be responsible for managing and growing our firm.” 

[II Deep Dive: CQS Sees Opportunities in Credit, Equities]  


Founded in 1999, CQS has offices in London, New York, Hong Kong, and Sydney. The hedge fund manager's investors include pension funds, insurance companies, sovereign wealth funds, endowments and foundations, and private banks, according the statement.

Hintze says is handing over the firm's CEO role to a longtime trusted peer.


“Xavier and I have known one each other for 35 years, having worked together early in our careers in finance,” Hintze said. “There is mutual trust and respect. Xavier is a man of great integrity and one of the best CEOs I know.”