LCH.Clearnet Makes Executive Appointments Following CEO Departure

With LCH.Clearnet CEO Ian Axe leaving the company this week, Michael Davie has been appointed as CEO of the U.K. clearing house LCH.Clearnet Limited, and Jacques Aigrain will assume the role of interim executive chairman of LCH.Clearnet Group until the parent company finds a new CEO.

Aigrain previously served as non-executive chairman of LCH.Clearnet Group before taking on the interim executive role. He also serves as non-executive director of the London Stock Exchange Group, a position he will retain alongside his new appointment.

Davie has been with LCH.Clearnet since 2010, and he will retain his role as CEO of SwapClear, the company’s interest rate swaps clearing platform, while also becoming the permanent CEO of LCH.Clearnet Limited.

“I am delighted Michael Davie is to become CEO of our U.K. 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,” says Aigrain. “I am also pleased to report that we are making excellent progress in our search for a new LCH.Clearnet Group CEO.”