LCH.Clearnet Group announces new Global Head of CDSClear
- Frank Soussan appointed as new Head from 1 July 2015
- CDSClear offers broadest European coverage of any CCP
LCH.Clearnet Group ("LCH.Clearnet"), the global clearing house, is today pleased to announce that Frank Soussan has been appointed Global Head of CDSClear, effective from 1 July 2015. Based in Paris, Frank will lead the Group's continued expansion of the service, which is the only EMIR-authorised CCP for the clearing of credit default swaps. Mr Soussan is currently Head of In-Business Risk for CDSClear. He takes on his new role from Gavin Wells who will now focus exclusively on ForexClear.
Frank began his financial career as a credit correlation trader at Société Générale in New York. From there he moved to the Credit Exotics trading desk at JP Morgan in London where he spent six years managing their Exotics and Structured Trading group. At the end of 2012, Frank moved to the buy-side, with Renshaw Bay to be a Senior Portfolio Manager for the Credit Special Opportunities Fund. He joined LCH.Clearnet Group in November 2014.
Michael Davie, Group COO, LCH.Clearnet said: "We are delighted to announce Frank Soussan's appointment as the new Global Head of CDSClear, which further strengthens the Group's senior management team. Frank brings considerable market experience and industry knowledge to the role, as we continue to build our global market position ahead of the introduction of a clearing mandate. I would also like to take the opportunity to thank Gavin Wells for his recent leadership of CDSClear, which, under his direction, has expanded the service and structure, giving it the broadest European coverage of any CCP in credit default swaps."
Frank Soussan - Biography
Frank joined LCH.Clearnet SA in November 2014 as Head of In-Business Risk for CDSClear.
He started his career in 2005 at SocGen in New York as a trader of Credit Correlation, CSO Tranches and CDS.
He joined the Credit Hybrids & Exotics Trading desk at JP Morgan in London in 2006 and was head of the Pricing and Execution team from 2008. Thereafter he ran the Exotics and Structured Trading books between 2010 and the end of 2012.
After his tenure at JP Morgan he moved to Renshaw Bay, a London Buy Side firm, as a Senior Portfolio Manager for the Credit Special Opportunities Fund.
Frank graduated summa cum laude from the Ecole Nationale de la Statistique et de l'Administration Economique (ENSAE) in Paris with a MSc in Statistics and Econometrics. He also holds a MSc in Mathematics in Finance from the Courant Institute at New York University (NYU).
For further information
Rhiannon Davies, Tel: +44 (0)20 7426 7523
Lucie Holloway, Tel: +44 (0)20 7797 1126
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The LCH.Clearnet Group is a leading multi-asset class and multi-national clearing house, serving major exchanges and trading 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 past 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 Group 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.