The London Metal Exchange (LME) is pleased to announce that Chris Jones has been appointed as the chief risk officer for LME Clear, marking an important step in the LME's self-clearing programme.
Mr Jones worked previously as a managing director and chief risk officer for LCH.Clearnet Group Ltd. During a 20-year career at LCH, Mr Jones was at the forefront of developments in the risk and clearing space, including regulatory change, the launch of several clearing services in new markets and active management of major defaults such as Lehman Brothers and MF Global.
"We are delighted that Chris has joined us here at LME Clear," said Trevor Spanner, managing director of post trade services at the LME. "His significant experience and market leadership in risk management will prove invaluable to LME Clear and underlines our commitment to building a world-class clearing house."
Mr Jones will take up his role at the LME in early 2013.
The design and build of LME Clear is well under way and the service is expected to go live in 2014.