If you were asked ‘What is the London Stock Exchange Group, (LSEG)?’, most investors would answer, ‘the London Stock Exchange, of course.’ Yet, the correct answer would be, “well that’s only around 5% of revenues today”, and then you might pause and wonder what the rest is…
In this conversation with David Schwimmer, a veteran of Goldman Sachs, and CEO of the LSEG since 2018, we examine an organisation that today has revenues of £8bn, an operating income of £2.8bn and a market capitalisation of approximately £50bn. LSEG is the 14th largest company in the UK, employing 25,000 people in 70 countries, and is now 4% owned by Microsoft (as of May 2024).
David explains the LSEG business today, how they are the no.1 globally in real time financial data, how they serve customers in areas from risk-analytics, FX, bond trading, KYC, ALM verification. He discusses the partnership with Microsoft, and the rapid shifts in technology, as well as their impact on business execution and enhancing productivity.
Finally we have an earnest conversation about the UK, which has the second largest pension market in the world, London’s enviable position, and why persistent negative press around delisting may have created a stronger narrative than the facts would suggest.
TOPICS:
00:00 - Intro to LSEG
02:10 - Journey from Law to Goldman
03:14 - LSEG Group Today
06:20 - Fixed Income & Foreign Exchange
09:12 - Tech in Business
12:03 - Microsoft Partnership
15:19 - Embedding AI
17:37 - AI Effect on Jobs
18:15 - UK Vs US Approach to Success & Failure
20:27 - Absence of Listings in UK
24:57 - FX
26:23 - PISCES
30:27 - LSEG Pitch to Companies
33:57 - Attracting Growth Capital
36:08 - UK Pension Sector
39:31 - Competitive Leadership Pay
44:20 - Leadership Style
45:25 - Challenges for Financial Services Industry
48:40 - Closing Questions & Advice
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All content on the Money Maze Podcast is for your general information and use only and is not intended to address your particular requirements. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions. Guests and presenters may have positions in any of the investments discussed. The Money Maze Podcast is funded by third party advertising. Money Maze Curated Podcasts do not contain third party advertising, and are instead funded by the featured interviewee and/or their business.
31 май 2024
