The chief executive of the London Stock Exchange has said the $27bn acquisition of data company Refinitiv will increase its global reach and lead to more business with asset managers.

Speaking to Financial News, LSE chief executive David Schwimmer talked of a “shift” in financial markets since the financial crisis, from banks to asset managers. The LSE confirmed on August 1 that it will buy Refinitiv from a Blackstone-led consortium and Thomson Reuters for $27bn, including debt.