Marsh McLennan plans to delist shares from London Stock Exchange

investmentweek.co.uk:

The company’s primary listing is on the New York Stock Exchange, where it is valued at around $92bn, said the majority of the trading in its shares is done.

Marsh McLennan cited costs and the administrative burden as reasons why it planned to delist, saying these were not proportionate to the advantages to be gained by remaining on the exchange, the Times reported.

The company's primary listing is on the New York Stock Exchange, where it is valued at around $92bn, said the majority of the trading in its shares is done.

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The company's shares will be formally removed from the UK market on 27 November at 8am, with the last day of trading shares on the London Stock Exchange on 24 November, ending a run that dates back to 1980.

The announcement is a further blow to the London Stock Exchange, which this year was shunned for the high profile listing of UK chip maker Arm in favour of the Nasdaq, amid slower trading volumes and fewer initial public offerings.

However the CEO of the London Stock Exchange Group has hit back against claims London is lagging. David Schwimmer said this month it was «by far the leading European stock exchange».

The group comprises a number of well-known names in the financial sector, the main one being Marsh, the world's largest insurance broker, risk specialist Guy Carpenter, and consultancies Mercer and Oliver Wyman.

It bought UK insurance broker Jardine Lloyd Thompson in 2019, with then Marsh McLennan CEO Dan Glasser saying he was «happy to bet on Britain» as a «great place» to do business.

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