LCH.Clearnet Group Limited today announces that Professor Lex Hoogduin will succeed Jacques Aigrain as Chairman of LCH.Clearnet Group Limited Board and LCH.Clearnet Ltd Board.
This follows Jacques Aigrain's decision to step down from both Boards, as a result of his extended activities with Warburg Pincus. Jacques has been Chairman since 2010 and has played an integral part in shaping LCH.Clearnet's growth as a leading global clearing house.
Lex has been a member of the LCH.Clearnet Group Board since September 2012 and has previously chaired its Limited, SA and LLC Risk Committees. He brings extensive expertise and insight to the role, having been Executive Director at De Nederlandsche Bank (DNB) from January 2009 until July 2011 where his wide-ranging responsibilities included economic policy and research, financial stability, financial markets, clearing and settlement systems. He has also held senior positions at Robeco and Managing Director of the IRIS research institute.
Jonathan Eliot, currently a Non-Executive Director of LCH.Clearnet Ltd, also joins the Boards of LCH.Clearnet Group, LCH.Clearnet SA and LCH.Clearnet LLC. Jonathan will chair the Risk Committees across the business. Jonathan is currently Chief Risk Officer at Man Group, and has had a 27-year City career with companies including JP Morgan, Deutsche Bank and Barclays.
All appointments are effective 5 March 2015.
Commenting on the changes:
Suneel Bakhshi, CEO, LCH.Clearnet Group:
"On behalf of the company I would like to thank Jacques Aigrain for his exceptional leadership of LCH.Clearnet Group during a pivotal period in the history of our business. We wish him well in the future. I would also like on behalf of the Group, to welcome Lex Hoogduin to the role of Chairman of the Group and Limited Boards, and Jonathan Eliot who also joins the Group, SA and LLC Boards. Our leading global clearing business has never been more relevant to the future stability and success of international financial markets. Collectively, their expertise will be invaluable to LCH.Clearnet Group as we build the most trusted clearing we build the most trusted clearing house in the markets that we serve."
Jacques Aigrain, Outgoing Chairman, LCH.Clearnet Group:
"The past five years have been remarkable in terms of regulatory development and LCH.Clearnet has often been at the centre of these developments as part of the solution. I am proud of what the management team has achieved with the continuous support of LSEG, and delighted to have such a remarkable qualified successor in the person of Lex.
Lex Hoogduin, Incoming Chairman, LCH.Clearnet Group:
"I am delighted to be appointed as Chairman of LCH.Clearnet Group at such an important time in its history. LCH.Clearnet Group is a global leader in the provision of clearing and risk management services to its customers across the world, and I am very much looking forward to working with my colleagues as the business continues to grow and evolve."