Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London
KUALA LUMPUR: The London Stock Exchange Group (LSEG), fresh from the official opening of its flagship office here, has reiterated its commitment to stay for the long-term in the country.
Having emphasised on the importance of talent in its recruitment policy, Malaysia has been a strategic find, according to Asia-Pacific managing director and group head of sales for the global market infrastructure solutions David Day.
Despite the potential political ebb and flow that has been occurring in the country, the LSEG is committed to stay in the country, he added.
“We are not about riding a political wave that comes and goes. We are an institution with a history of over three centuries, and while every political system has its strengths and weaknesses, the decision to be here since 2002 has been well thought out,” he said.
Having cooperated with a number of government investment agencies including InvestKL, Day remarked on the sustained opportunities that the country could offer and that the LSEG is dedicated to its role as a responsible corporate citizen.
He added that the LSEG is experienced in handling financial markets at varying degrees of maturity, and that it is serving important roles from the mature to newly developing and high-growth markets.
Day said: “This is why we can confidently say we will be here committedly. We have the ability to share our knowledge and expertise across different markets and here we hope to help grow Malaysia’s capital markets, economy and benefit Malaysians.”
Meanwhile, LSEG group head of customer operations Thomas Frossell, said there is potential in the local talent pool and the institution is keen to expand its workforce.
The group would be transporting a host of customer operation roles to its new office here, including technical implementation and analytical roles.
Frossell said: “Besides allowing our employees to grow into several roles, another crucial aspect that is important to us is to cultivate and develop leadership locally, in this case Malaysian leadership roles.
“Our philosophy is not to recruit non-Malaysians into management positions, but to bring up Malaysians, so this forms part of our investment strategy.”
He said the group has a manpower of more than 70 people but is looking to offer more than 300 positions.
Separately, he said the group would also be supporting the wider Asian financial markets in addition to Malaysia’s, with the overall goal of improving financial literacy among its customers who consist of retail individuals as well as institutional investors.
“The establishment of this office underscores our dedication to provide market infrastructure solutions that are pivotal for the country’s globalisation efforts, foreign capital attractiveness, and integration of global best practices into the local financial ecosystem.
“This collaboration also comes in tandem with our fruitful partnership with Bursa Malaysia to enhance sustainability reporting standards across the country,” Frossell said.
Chief executive of InvestKL Datuk Muhammad Azmi Zulkifli, who was present at the opening ceremony recently, said: “We take pride in facilitating a leading global name such as LSEG into Greater Kuala Lumpur and further realising its goals through deeper local ecosystem collaborations.
“LSEG’s decision to expand its footprint is a resounding testament to Malaysia’s ease of doing business, talent capabilities and highly developed digital infrastructure. We look forward to support LSEG’s growth plans in the region and further elevate KL as a competitive investment hub for innovation and sustainability activities.”
