London Stock Exchange in ‘strong financial position’, CEO Schwimmer says By Reuters
© Reuters. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville
LONDON (Reuters) -The London Stock Exchange Group (LON:) is in a strong financial position with integration of the $27 billion Refinitiv data and analytics company it bought in January on track, Chief Executive David Schwimmer said on Friday.
“We’re in a strong financial position,” Schwimmer told an online investor event. “We remain confident in achieving financial targets that we set out when we announced the transaction.”
So far “run rate” savings of 40 million pounds ($55 million) have been made as integration remains on track, and leverage has been cut by 4 billion pounds, he said.
LSEG was continuing an investment programme in Refinitiv and its terminals begun by Blackstone (NYSE:), he said of the exchange’s previous owner.