In 2018 revenue was up 8% to £1.9 billion, and the dividend jumped 17% to 60.4p. Profits excluding writedowns rose 17% to £1.06 billion. Operating profit rose 15% to £931 million.
Pundits were worried that the City may lose its place as a euro clearing centre, a threat diminished by recent deals with regulators.
Schwimmer said that while he was “never complacent about the competitive landscape, we have seen no discernible change in the market share of our clearing business”.
He added: “Our businesses, including those perceived to be most exposed to Brexit, such as clearing, continue to perform very well, with no change in our market position”.
His predecessor Xavier Rolet had warned Brexit could lead to 230,000 City job losses. Schwimmer declined to comment on that directly, but said: “The discussion has moved on.”
Rolet tried to merge the LSE with the Deutsche Börse, a deal that was struck down by European regulators.
Schwimmer played down the possibility of any similar large deals, saying M&A was a “tool in the toolkit” but that “we are very happy about the strategic positioning of the group”.
Some fear that stock market floats could dry up post-Brexit. Schwimmer said: “We expect international growth opportunities to offset any market headwinds.”
“When I joined the London Stock Exchange Group, I had an outsider’s perception of the group’s strong businesses and international standing. Since then, my early impressions of its strengths have only been reinforced.”
