LCH.Clearnet Group, the global independent clearing house group, has appointed Ian Axe as chief executive of both LCH.Clearnet Group Limited (the group holding company) and LCH.Clearnet Limited (the UK-based subsidiary).
Axe joins from Barclays Capital where he was most recently global head of operations and COO of EMEA. He will replace Roger Liddell, who has been chief executive since July 2006 and who announced his intention to retire in July 2010.
Ian has experience of building successful businesses around the world, says Jacques Aigrain, chairman of LCH.Clearnet. This, combined with his extensive financial expertise, makes him well placed to lead LCH.Clearnet at this exciting and challenging time. As the market leader in OTC clearing and with expertise in a broader range of assets than any other clearing house globally, LCH.Clearnet is well placed to benefit from the worldwide drive to reduce systemic risk.
Axe has 17 years of experience in the financial sector. He joined Barclays Capital in 2002 from Booz Allen Hamilton, where he was a principal in the financial services practice, advising leading financial institutions on strategic issues. At Barclays Capital he was responsible for a number of key initiatives, including the formation of Barclays Wealth, the development of Absa Capital into South Africas leading investment bank, the integration of Lehman Brothers and the divesture of BGI. He was also global head of equity finance and was appointed COO of EMEA at Barclays Capital in 2009 and head of operations in 2010.
Axe adds, Im delighted to be joining LCH.Clearnet; never has the importance of clearing been so evident, nor the opportunities so great. LCH.Clearnet is at the forefront of its industry and plays a vital role in reducing risk across financial markets globally.
LCH.Clearnet reduced its clearing fees last August.