Based in Paris, Frank will lead the Group’s continued expansion of the service, which is the only EMIR-authorised CCP for the clearing of credit default swaps. Mr Soussan is currently Head of In-Business Risk for CDSClear. He takes on his new role from Gavin Wells who will now focus exclusively on ForexClear.

Frank began his financial career as a credit correlation trader at Société Générale in New York. From there he moved to the Credit Exotics trading desk at JP Morgan in London where he spent six years managing their Exotics and Structured Trading group. At the end of 2012, Frank moved to the buy-side, with Renshaw Bay to be a Senior Portfolio Manager for the Credit Special Opportunities Fund. He joined LCH.Clearnet Group in November 2014.

Michael Davie, Group COO, LCH.Clearnet said: “We are delighted to announce Frank Soussan’s appointment as the new Global Head of CDSClear, which further strengthens the Group’s senior management team. Frank brings considerable market experience and industry knowledge to the role, as we continue to build our global market position ahead of the introduction of a clearing mandate. I would also like to take the opportunity to thank Gavin Wells for his recent leadership of CDSClear, which, under his direction, has expanded the service and structure, giving it the broadest European coverage of any CCP in credit default swaps.”