140: LSEG: Partnering with Microsoft and Why London Remains a Leading Financial Hub - With LSEG CEO, David Schwimmer

Money Maze Podcast

Business, Investing, Management, News, Business News

4.8 • 216 Ratings

🗓️ 9 May 2024

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 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.

The Money Maze Podcast is kindly sponsored by Schroders, IFM Investors and the World Gold Council.

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Transcript

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0:00.0	Welcome to the Wall Street Shuffle in the Money Russell
0:13.2	Welcome to the Money Mace podcast.
0:17.5	I'm Simon Brewer and along with my co-founder, Will Campion, we created this show in 2020
0:23.2	to explore and unravel some of the mysteries surrounding the investment and business worlds.
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0:55.0	And we'd like to thank you for listening.
0:56.7	If we could ask one favor, we'd love you to tell a friend or colleague about us.
1:01.8	Thank you.
1:10.4	So I just heard the bells strike nine o'clock at St Paul's, which is where we are today in Patronaster Square.
1:17.7	And if I asked you what is the London Stock Exchange Group, or LSEG, most investors would answer, well, it's the London Stock Exchange, of course.
1:25.5	And the answer was wrong. That's only 5% of revenues today.
1:29.3	And you'd pause and wonder what the rest is.
1:31.7	So today we're going to examine an organisation with revenues of over £8 billion,
1:36.0	operating income of nearly £3 billion, a market cap of £50,000, the 14th largest company in the UK,
1:43.3	employing 25,000 people in 70 countries,
1:46.3	and is owned 4% today by Microsoft.
1:49.2	Plenty has changed since its inception in Sweetings Alley in the city of London in 1801.
1:54.7	And here to discuss approach, vision and opportunities is a veteran of 20 years at Goldman Sachs
1:59.6	and CEO since 2018. David Schwimmer,
	...

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