Boss of LSE may pocket £8m despite City exodus
London Stock Exchange chief executive could earn £8 million in salary this year despite mounting pressure on the group
Targets: LSE’s David Schwimmer
The CEO of the London Stock Exchange could earn £8 million this year, despite mounting pressure on the group.
David Schwimmer’s potential salary package for 2023 has been revealed during UK markets research as a wave of big companies have said they want to cut London or avoid the City altogether.
The biggest blow came last month when Cambridge chip designer Arm rejected a charm offensive from ministers and decided to list 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, CEO of InterContinental Hotels Group, claimed last week that Britain is “not very attractive” to list.
Schwimmer has admitted that there is no silver bullet to boost London’s competitiveness.
Public listings represent a small part of the total turnover of the London Stock Exchange, which rose to £7.4 billion last year. But critics say London is a market in decline.
Newly filed documents show Schwimmer received £4.7 million last year, up from £6.85 million in 2021. This could amount to £8 million this year if he hits every target.
The London Stock Exchange Group has been contacted for comment.