In order to strengthen its global over-the-counter (OTC) derivative client clearing offering, LCH.Clearnet has appointed Michael Davie chief executive officer (CEO) of SwapClear, its interest rate swap (IRS) clearing service. In this new role, Davie will lead the next phase of the development of SwapClear, which will focus on delivering products and services to the buy-side. He will report to Roger Liddell, CEO, LCH.Clearnet.
Liddell said: “Clients represent a large proportion of the global interest rate swap market. Michael’s appointment reflects our commitment to delivering OTC derivative clearing services to the buy side and of ensuring that SwapClear’s market leading offering evolves in line with their needs.”
Davie has over 20 years experience in financial services and has held a number of senior strategic, trading, marketing and operational positions during this time. He joins LCH.Clearnet from JP Morgan.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.