LCH.Clearnet confirms management shuffle

Source: LCH.Clearnet

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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