LCH Group management appointments

Report date

•    Michael Davie appointed as new Group Chief Operating Officer
•    Martin Pluves appointed as CEO of LCH.Clearnet Ltd


LCH.Clearnet Group, the global clearing business, is today pleased to announce two senior executive appointments. Effective Jan 1 2015, Michael Davie will be appointed as Group Chief Operating Officer and Martin Pluves will be appointed as Chief Executive Officer LCH.Clearnet Limited.

In the newly created role of Group COO, Mr Davie will be responsible for the Group's global product and business development activities, including strategy and delivery. Michael will also be responsible for overseeing innovation, industry insight and for managing certain key relationships. Michael will continue to report to the Group CEO, Suneel Bakhshi.

Mr Pluves, currently Chief Operating Officer of LCH.Clearnet Limited, will replace Michael Davie as Chief Executive Officer of LCH.Clearnet Limited. Martin will report directly to the Group CEO, Suneel Bakhshi. Alongside Christophe Hemon, CEO of LCH.Clearnet SA and David Weisbrod, CEO of LCH Clearnet LLC, Mr Pluves will continue to work in close partnership with Michael Davie in his new role.

Suneel Bakhshi, CEO of LCH.Clearnet Group said: "LCH Clearnet Group operates in a highly dynamic industry and plays a systemically important and increasingly critical role within the global capital markets. I am therefore delighted to announce these pivotal appointments, strengthening our management team within our organisation. Over the past four years, Michael's leadership has been instrumental in the development and execution of the Group's strategy; and Martin brings to the role of CCP CEO a wealth of experience and industry expertise. Stability and efficiency, competitiveness and innovation, will continue to be our key priorities as we drive the business forward."

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Michael Davie – Biography
Michael Davie joined LCH.Clearnet as CEO of SwapClear in August 2010 and became the CEO of the CCP's Limited entity in September 2013. Michael has over 20 years experience in Financial Services having joined LCH.Clearnet from JP Morgan Chase, where he was a managing director in the investment bank. During his 15 years at that bank, he held a variety of sales and trading-related roles, primarily in interest rate and credit products. Before joining JP Morgan Chase, Michael worked at Bankers Trust Company and IBM. He has served on the boards of SwapsWire, Tradeweb, and Markit.

Martin Pluves – Biography
Martin Pluves joined LCH.Clearnet in November 2009 initially as IT Director and as a member of the Group IT Executive. Martin led LCH.Clearnet's programme to launch ForexClear the world's first 24 hour OTC FX clearing service. Martin was responsible for all technology, operations and change for the first year of ForexClear post-launch. As Group Head of Regulatory Change, Martin took responsibility for leading the EMIR authorisation of the French and UK CCPs and at the end of 2013 Martin became Chief Operating Officer of LCH.Clearnet Limited.

Martin has over 19 years experience in financial services and financial market infrastructure. Prior to LCH.Clearnet he was a Partner in PA Consulting Group's Financial Services practice, where he worked for over 14 years with clients including LCH.Clearnet, London Metal Exchange, London Petroleum Exchange, Irish Financial Services Regulatory Authority and the Irish Stock Exchange.

For further information please contact:

Rhiannon Davies, LCH.Clearnet, Tel +44 (0)20 7426 7523

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About LCH.Clearnet
The LCH.Clearnet Group is a leading multi-asset class and multi-national clearing house group, 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