Warning: London Stock Exchange boss Julia Hoggett
The boss of the London Stock Exchange has warned companies tempted to move their listing from the UK to the US that ‘the grass isn’t always greener’.
Julia Hoggett said the financial market needed to stop ‘eating itself’ and urged firms to recognise the virtues of the Square Mile.
‘Most countries in the world would aspire to have the capital markets that we’ve got. But we are not sitting on our laurels,’ she added.
Hoggett, who took over the stock exchange in 2021, also cautioned that firms defecting to New York could live to regret it.
‘We’ve looked at what happens to UK companies that have raised over £100m who go to the US. There have only been 20 in the last ten years.
‘Eight have already delisted, only four are trading up and the rest are trading down by an average of 80 per cent.’
Her comments come at a time of concern that more firms could leave for the US market.
Gambling giant Flutter shifted its main stock market listing to New York earlier this year.
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