LCH.Clearnet LLC names new CEO 27 February 2013New York Reporter: Jenna Jones
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LCH.Clearnet group has appointed David Weisbrod as CEO of its US subsidiary, LCH.Clearnet LLC, to oversee the continued expansion of its multi-national central counterparty clearing (CCP) business.
Prior to his new appointment Weisrod held the role of vice chairman for the risk management group at JPMorgan Chase. He also sat on the firm’s corporate risk policy group and chaired its exchange and clearinghouse steering committee.
Weisbrod will work closely with Ian Axe, group chief executive, and the LCH.Clearnet board to set and execute the Group’s US strategy. He will also work closely with the current US management team, regulators, members and clients in the US to ensure the CCP meets the market’s needs and requirements.
Axe said: “I am delighted Weisbrod is joining our team. He has vast risk management expertise, clearing knowledge and experience working with US regulators, and he joins the group at a critical stage of our US growth.”
Commenting on his appointment, Weisbrod said: “LCH.Clearnet is at the forefront of counterparty risk management for its users and has a great platform to build on for growth in the US, particularly with the success of SwapClear. I am excited to work for an industry leading CCP, which is well placed for the new regulatory and competitive world in which it operates.”
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