London Stock Exchange chief reassures investors amid exodus fears
- David Schwimmer reported a £25 billion total raised in equity capital last year.
- Group pre-tax profits rose by 10.3% to £2.97 billion.
- Schwimmer anticipates an increase in UK flotations this year.
In the UK, the London Stock Exchange Group's chief executive, David Schwimmer, has recently dismissed concerns regarding London's status as a global financial hub. He highlighted the impressive £25 billion in equity capital raised in the previous year, which surpasses the total raised by the next three largest European exchanges combined. Schwimmer made these reassurances while revealing a significant 10.3 percent increase in the group's pre-tax profits, which amounted to £2.97 billion. He also announced plans for a £500 million share buyback during the first half of 2025, indicating a robust financial strategy going forward. In the face of rising competition from other financial markets, particularly New York, the London Stock Exchange has experienced some trepidation regarding the potential departure of UK-listed companies. Despite these challenges, Schwimmer remains optimistic about the future, asserting that the UK market is set to see an increase in flotations this year. By emphasizing the strength of the capital raised and the financial achievements of the organization, he aims to mitigate fears regarding an exodus of companies seeking listing on Wall Street. Preparing analysts for the upcoming financial year, Schwimmer expressed confidence that 2024 will offer