LCH.Clearnet Group Limited (LCH.Clearnet) is to appoint Stephen Patriarco as Global Head of Collateral Services, U.S. Head of Collateral and Liquidity Management (CaLM).
Stephen will be responsible for developing LCH.Clearnet's collateral management capabilities on a global basis and will provide localised support in collateral and liquidity management to U.S. clients. The appointment is further testament to LCH.Clearnet's commitment to the U.S. marketplace and to the importance placed on creating collateral efficiencies for participants.
Stephen has over 25 years' experience in financial services and has spent a considerable amount of his career focusing on improving infrastructure and processes supporting financing and collateral management areas. He joins from SJP Financial Consulting Services, a company which he founded to provide financial consulting services to a wide range of small and midsize enterprises. Prior to this, Stephen spent 15 years at various major investment banks including Lehman Brothers, Credit Suisse and Merrill Lynch, where he held a variety of senior management positions, latterly as Global Head of Derivative Operations, Futures, and Collateral Management at Merrill Lynch. He has a proven track record in developing and implementing new business opportunities and reengineering existing processes to be more efficient and cost effective.
Andrew Howat, Group Head of CaLM said: "Stephen's extensive industry expertise makes him an ideal candidate to help build on our already robust collateral and liquidity management capabilities. This appointment reflects CaLM's strategy to continually evolve to meet our clients' growing global demands for effective collateral management solutions and further reinforces our commitment to the U.S. market."