LSEG confirms LCH.Clearnet Mgmt Changes

RNS Number : 8697O

London Stock Exchange Group PLC

25 September 2013

 



LSEG confirms LCH.Clearnet Management Changes

LCH.Clearnet, the multi-national clearing house group, today announces that Jacques Aigrain, the current Non-Executive Chairman is to become interim Executive Chairman of LCH.Clearnet Group. Jacques is also a Non Executive Director of London Stock Exchange Group and will remain in that position whilst serving as interim Executive Chairman for LCH.Clearnet Group.

Additionally, Michael Davie, CEO of SwapClear, who has been with the business since 2010 will become the permanent CEO of LCH.Clearnet Limited, the UK clearing house, in addition to his role at SwapClear.

This follows July's announcement that, following an orderly handover process, Ian Axe intended to step down as Chief Executive of LCH.Clearnet Group and LCH.Clearnet Limited. Ian will leave the company this week and these changes will take place immediately.

Jacques Aigrain, Executive Chairman of LCH.Clearnet, said: "I am delighted Michael Davie is to become CEO of our UK clearing house, LCH.Clearnet Limited. His exceptional leadership at SwapClear is evidenced by the business' recent success and I very much look forward to continuing to work with him.  I am also pleased to report that we are making excellent progress in our search for a new LCH.Clearnet Group CEO and until we have an appointee in place, I will be taking on a full-time executive role, working with the LCH.Clearnet executive management team, focusing on the continued execution of our growth strategy."

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For further information:

Media
Victoria Brough, LSEG	[phone] [e-mail]
Juliana Wheeler, LCH.Clearnet	[phone]
Investors: Paul Froud, LSEG	[phone]

Notes to editors:

About LCH.Clearnet

The LCH.Clearnet Group is a leading multi-asset class and multi-national clearing house, serving major exchanges and platforms as well as a range of OTC markets.

LCH.Clearnet's world-class risk management framework provides exceptional levels of protection to international markets, as has been proven through the management of recent defaults. As demand for robust clearing services continues to grow, LCH.Clearnet is committed to achieving the highest standards of risk management across all asset classes cleared.

LCH.Clearnet is majority owned by London Stock Exchange Group (LSE.L), a diversified international exchange group that sits at the heart of the world's financial community.

For more information on LCH.Clearnet visit www.lchclearnet.com/media_centre.

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801.

The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and the pan-European MTF, Turquoise. Through its markets, the Group offers international business, and investors, unrivalled access to Europe's capital markets.

Post trade and risk management services are a significant part of the Group's business operations. LSEG operates CC&G, the Rome headquartered CCP and Monte Titoli, the significant European settlement business, selected as a first wave T2S participant. The Group is also a majority owner of leading multi-asset global CCP, LCH.Clearnet.

The Group offers its customers an extensive range of real-time and reference data products, including Sedol, UnaVista, Proquote and RNS, as well as access to over 200,000 international equity, bond and alternative asset class indices, through LSEG's world leading index provider, FTSE.

London Stock Exchange Group is also a leading developer of high performance trading platforms and capital markets software. In addition to the Group's own markets, over 30 other organisations and exchanges around the world use the Group's MillenniumIT trading, surveillance and post trade technology.

Headquartered in London, United Kingdom with significant operations in Italy, France, North America and Sri Lanka, the Group employs approximately 2,800 people.

Further information on London Stock Exchange Group can be found at: www.lseg.com

 

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