Assurance: London Stock Exchange Group boss David Schwimmer (pictured) suggested fears of an exodus to New York were overblown.
The boss of the London Stock Exchange Group (LSEG) has played down fears over its future amid an exodus of UK-listed firms to New York.
But chief executive David Schwimmer insisted it was ‘absolutely core’ to LSEG, as its equities business reported revenues of £236million, up by 4.6 per cent, with £25billion raised for 274 companies.
LSEG, which owns the stock exchange, reported a 5.3 per cent rise in full-year profits to £1.26billion.
The stock exchange is only about 3 per cent of its income and is dwarfed by operations focused on financial data and analytics.
