The head of the London Stock Exchange Group has hit back at criticism that the City’s position as one of the world’s leading financial centres is slipping, calling fears of a loss of business “a kind of clickbait”.
David Schwimmer, who has headed the LSE Group for five years, told the Financial Times there were ways to improve the UK’s capital markets, which have suffered this year from a slowdown in trading volumes, loss of equity listings to New York and dearth of initial public offerings.
However, he said there was “an overplayed narrative and . . . anything that is seen as negative commentary about London as a financial centre has become kind of clickbait.”
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