London Stock Exchange chief executive talks up prospect of “industry-defining combination” with Deutsche Boerse
London Stock Exchange Group's chief executive has talked up the “industry-defining combination” a potential merger with Deutsche Boerse would create.
In a conference call this morning following the release of LSEG’s preliminary 2015 results, Xavier Rolet spoke of the company’s “global aspirations”.
But he said he was unable to answer questions about a potential offer from New York Stock Exchange owner Intercontinental Exchange.
Read more: LSE profit up as talks with Deutsche Boerse continue
On the proposed merger with Deutsche Boerse, Rolet said: "The European-based global markets infrastructure group offers significant benefits for our customers. We’re still in detailed discussions and we will update the market in due course.”
Rolet spoke of there being a “global industry” and said customers “are looking for further efficiencies”.
He said: “It’s quite clear that if you position yourself from the customer’s standpoint there are still further efficiencies that they expect from infrastructure groups – particularly a group like ours, which will remain London-based."
Rolet added that given "London's global financial reach" the group has "global aspirations to service a global client base".
The company today reported a gross profit rise of 40 per cent to £1.8bn and revenue up 78 per cent to £2.3bn.
Read more: LSE chief will step down once Deutsche deal completes
Rolet, who will step down from his position if and when the Deutsche Boerse merger is completed, also spoke about the potential impact of a Brexit on LSE.
“London Stock Exchange Group is a global company. Whether you look at our Eurozone, UK, North American, South American, Asian, revenues, emerging markets – we do have global infrastructure…
"If decisions are made of a political nature, that gives an incentive to clients to do their business in a different way.”
He added: "We are today in a position to service them in the way that they require."