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IAN AXE TO STEP DOWN AS CHIEF EXECUTIVE OF LCH.CLEARNET
18 July 2013
LCH.Clearnet, the multi-national clearing house group, today announces that Ian Axe is to step down as Chief Executive of LCH.Clearnet Group Limited and LCH.Clearnet Limited.
Ian Axe has agreed to remain in his position to ensure an orderly handover and a search for a successor has already commenced.
Ian Axe said: “I am extremely proud to have led LCH.Clearnet during a period of significant transformation for the business. The partnership between LCH.Clearnet and the London Stock Exchange Group has been a key achievement, ensuring a clear growth path for our open access horizontal model for clearing across markets and geographies. With the post transaction programme between the businesses well underway, I now feel that I can think about new opportunities.”
Jacques Aigrain, Chairman of LCH.Clearnet, commented: “Ian Axe joined LCH.Clearnet two and a half years ago at a critical moment for the business and has been absolutely instrumental in driving significant change, culminating in the partnership with London Stock Exchange Group. It is thanks to him that LCH.Clearnet is well positioned to be the leading global CCP at a time of great opportunity. On behalf of the Board I would like to thank Ian Axe for his contribution and his leadership and we wish him all the best for the future.”
For more information contact:
Brunswick Group
Andrew Garfield +44 (0) 20 7404 5959
LCH.Clearnet
Juliana Wheeler +44 (0) 20 7426 7638
Notes to Editors
About LCH.Clearnet
The LCH.Clearnet Group is a leading multi-asset class and multi-national clearing house, serving major exchanges and platforms as well as a range of OTC markets.
LCH.Clearnet’s world-class risk management framework provides exceptional levels of protection to international markets, as has been proven through the management of recent defaults. As demand for robust clearing services continues to grow, LCH.Clearnet is committed to achieving the highest standards of risk management across all asset classes cleared.
LCH.Clearnet is majority owned by London Stock Exchange Group (LSE.L), a diversified international exchange group that sits at the heart of the world's financial community.
For more information on LCH.Clearnet visit www.lchclearnet.com/media_centre