Mr. Zschach will be responsible for overseeing LCH.Clearnet's technology infrastructure, ensuring that the robustness and resilience of the company's industry-leading clearing solutions is preserved.

As a leading global clearing house group, LCH.Clearnet reduces risk for its customers worldwide, underpinning the safety and efficiency of many important financial markets.

Mr. Zschach has more than 21 years of technology experience within the investment banking environment. He joins the company from Bank of America Merrill Lynch, where he was managing director and co-head of global rates and currencies technology infrastructure. Prior to that, he held several senior technology roles at leading investment banks, supporting fixed income, equities and derivatives businesses, including Barclays Capital, Credit Suisse First Boston, Merrill Lynch and Lehman Brothers.

Ian Axe, chief executive, LCH.Clearnet, said: "Tom's wealth of experience as a technology leader, coupled with his deep industry knowledge, will enable us to sustain the highest possible performance to meet the needs of our customers across the globe. With regulators and legislators looking to introduce more products to clearing, providing a safe, reliable and robust technology infrastructure is crucial."

Tom Zschach, group CIO, LCH.Clearnet, said: "This is a really interesting time to join LCH.Clearnet and I look forward to applying my experience and skills to support the growth of the business. I am delighted to become part of a company where innovation and forward-thinking are a high priority."

Mr. Zschach was appointed CIO of LCH.Clearnet with effect from 11 July 2011 and will report directly to Ian Axe.