×

UPDATE 1-Deutsche Boerse to present plans in May after strategy review

* Deutsche Boerse reviews strategy and costs

* Comments from Weimer are most extensive so far as new CEO

* Sees growth from data, euro clearing and possible M&A (Adds details, background)

FRANKFURT, Feb 21 (Reuters) - Deutsche Boerse is reviewing its strategy and costs, and plans to provide details in May, the German stock exchange operator's new chief executive said on Wednesday, indicating that acquisitions could be part of his plans.

"I see a whole range of opportunities for us to grow," CEO Theodor Weimer said, also highlighting what he called "a unique opportunity to build a credible alternative to London," once Britain leaves the European Union.

He pointed to hopes of drawing euro clearing business from London after Britain leaves the European Union, opportunities for its data business, and possible acquisitions.

"Acquisition-driven growth is a staple of our sector," he said. "Because the stock exchange business is a scale business. Size is vital for our success."

The comments at an annual press conference are the most extensive since Weimer took over as head of the German stock exchange as its chief executive at the start of the year.

Weimer aims to open a new chapter after Deutsche Boerse was beset by an insider trading scandal, a failed merger with its London counterpart and a profit warning.

"I will do everything I can to make 2018 a year of renewal," Weimer said."

The company missed its full-year profit target for 2017 as low market volatility weighed on its business, its earnings published on Tuesday showed, but it expects a rise in net profit of "at least" 10 percent in 2018.

(Reporting by Tom Sims; Editing by Maria Sheahan)