(Reuters) Qatar's sovereign wealth fund has thrown its support behind the embattled chairman of the London Stock Exchange Group, who is facing calls from an activist shareholder to be removed, a source familiar with the matter has said.
British hedge fund firm TCI Fund Management, a 5% shareholder in the LSE, is pushing to oust chairman Donald Brydon over his handling of the succession of Xavier Rolet, the group's former chief executive who resigned last month.
A shareholder meeting has been called by the LSE board for 19 December to decide on Brydon's future
Change not beneficial
Qatar Investment Authority (QIA), the second-largest shareholder in the LSE with a 10.37% stake, according to Thomson Reuters Eikon data, disagrees that the chairman should be ousted, a source familiar with the matter told Reuters.