Expert Corporate Governance Service (ECGS)
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London Stock Exchange - AGM 01 May 2019


Mr. David Schwimmer was appointed as CEO in August 2018. The current Chairman, Mr. Donald Brydon, will step down after the AGM. Mr. Don Robert who joined the Board as a Non-Executive Director in January 2019 will succeed Mr. Brydon as Chair.

 Item 3: Approve the Remuneration Report

The structure is unsatisfactory.  The bonus exceeds guidelines and the use of qualitative exceeds guidelines, which calls into question the alignment of pay with performance.  The LTI is overly reliant on EPS, which is not considered appropriate as it can potentially be influenced by executives.  Incentive payments to the new CEO during the year were excessive and an unacceptable recruitment award was made.  We recommend shareholders oppose.

London Stock Exchange Group

London Stock Exchange Group is a global markets infrastructure business based in the United Kingdom. Co's operating segments include: Information Services, which provides a range of information and data products including indexes and benchmarks; Post Trade Services LCH, which provides clearing services through which counterparty risk is mitigated across multiple asset classes; Capital Markets, provides access to capital for domestic and international businesses and electronic platforms for secondary market trading of equities, bonds and derivatives; and Group Technology, which provides secure technologies to customers that require performance at high levels of availability and throughput.


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