Deutsche Börse reveals €270m fintech war chest

Deutsche Börse has earmarked €270m for investment in new technologies and hundreds of new jobs as it looks to move on from its failed merger with the London Stock Exchange. In the first major strategy update under new chief executive Theodor Weimer, the exhange set out a plan to invest in blockchain, big data analysis, cloud computing, robotics and artificial intelligence. Weimer, the former Goldman Sachs partner and UniCredit investment banker who succeeded Carsten Kengeter in January, said the exchange also hoped to grow through «targeted acquisitions» in the years ahead.

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