UPDATE 3-London Stock Exchange sees possible M&A, cuts jobs

* New CEO says M&A could play role in growth strategy

* Has war chest of 300 mln stg for possible deals -fin dir

* Cuts 133 staff, or 12 pct, to save 11 mln stg annually

* Says market conditions remain challenging

* Shares down 1 pct

(Adds CEO, analyst comments, share price fall)

By Daisy Ku

LONDON, Sept 24 (Reuters) - London Stock Exchange Group Plc's (LSE) (LSE.L) new chief executive said he would consider acquisitions as he sought to make his mark on Thursday with plans to grow the business and cut costs by shedding jobs.

Xavier Rolet, a former Lehman Brothers banker who took the helm in May from Clara Furse, said he was looking for growth through measures including partnerships and acquisitions.