A FORMER Treasury official who grew up in Barrow has become the new chief executive of the London Stock Exchange.

Nikhil Rathi, who went to Chetwynde School, said he hoped to use his prominent position to benefit south Cumbria businesses.

The London Stock Exchange Group announced yesterday that the 36-year-old had been made head of the group's regulated subsidiary, LSE plc.

The Oxford University graduate moved to Barrow, with mum Madhu and dad Dr Rajendra Rathi - who sits on the bench in Furness Magistrates' Court - when he was three.

Mr Rathi, who was Cumbria Under-12s tennis champion, said: "I know that from Barrow, James Fisher has been listed on the exchange for many years, BAE systems is listed, and we're here to support all the companies, small or large, that are looking to grow, create jobs, and help economies all around the UK.

"It's really exciting. I'm proud and I'm also keen to live up to the expectations that the exchange has built."

Mr Rathi, who is married with two children and now lives in London, worked at the UK Treasury for 11 years.

There he held a number of senior roles, including director of the financial services group, representing the UK government's financial services interests in the EU and internationally.

Mr Rathi, who joined the London Stock Exchange in May 2014 as director of international development and chief of staff, added: "Barrow is definitely where I feel at home most.

"It's where we moved when I was very young; we had no other family and there are so many people in Barrow whom we can genuinely call family now; whom I'm very attached to, and the wonderful thing about Barrow is how warm and open people are.

"I hope from this position that I'll be able to give something back to the local community in Barrow as well, and work with small businesses and all the companies there are looking to get on."

Xavier Rolet, CEO of London Stock Exchange Group, said: “I’m confident that under Nikhil’s leadership, London will continue to be the premier global market for both domestic and international companies that are attracted to London’s unrivalled international investor base and deep pool of liquidity when raising capital to grow their businesses.”