Chief executive of London Stock Exchange could earn £8m in pay this year despite growing pressure on group
Targets: LSE’s David Schwimmer
The chief executive of the London Stock Exchange could earn £8 million in pay this year despite growing pressure on the group.
David Schwimmer’s potential pay packet for 2023 has been revealed amid scrutiny of Britain’s markets as a flurry of major firms have said they are seeking to delist from London or avoid the City altogether.
The most significant blow came last month when Cambridge chip designer Arm spurned a charm offensive by Ministers and decided to list in New York over London.
Other firms, including CRH, the world’s largest building materials company, have also said they plan to leave London for the US.
Keith Barr, chief executive of InterContinental Hotels Group, claimed last week that Britain is ‘not a very attractive place’ to list.
Schwimmer has admitted there is no ‘silver bullet’ to boost London’s competitiveness.
Public listings represent a small portion of the London Stock Exchange’s overall revenue, which last year rose to £7.4 billion. But critics say London is a market in decline.
Newly filed documents show Schwimmer was paid £4.7 million last year, against £6.85 million in 2021. This could reach £8 million this year if he hits every target.
The London Stock Exchange Group was contacted for comment.
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