LCH.Clearnet LLC appoints Christine Cumming to Board of Directors
LCH.Clearnet Group (“LCH.Clearnet”), the global clearing house, today announced that Christine Cumming has been appointed to the Board of Directors of LCH.Clearnet LLC, the Group’s US-based entity. Christine serves as an independent non-executive director and also as a member of the Risk Committee.
Prior to her appointment, Christine held a number of leadership positions over her 35-year tenure at Federal Reserve Bank of New York. Most recently she held the role as the Bank’s First Vice President for 11 years, also serving as Chief Operating Officer. In her earlier roles at the Bank, she specialised in bank supervision and economic research, contributing to policy work on risk management, capital markets, liquidity management, and the handling of failed and failing financial institutions.
Jill Considine, Chairman of LCH.Clearnet LLC, said: “Christine has had a distinguished career at the Federal Reserve Bank of New York, often leading and participating in the work of a number of international financial policy committees. Her experience will undoubtedly be an asset to LCH.Clearnet LLC and I am delighted to welcome Christine to the Board.”
Christine Cumming – Biography
Christine Cumming has been appointed as an Independent Non-Executive Director of LCH.Clearnet LLC.
Christine retired from the Federal Reserve Bank of New York in June 2015 after 35 years of service, the last 11 years as First Vice President and as the Bank’s Chief Operating Officer. In her role, she also served as the Senior Executive responsible for the Federal Reserve’s Fedwire wire transfer and securities settlement services and an alternate voting member of the Federal Open Market Committee.
Earlier in her career, Christine filled senior leadership roles in bank supervision and economic research, contributing to policy work on risk management, capital markets, liquidity management, and the handling of failed and failing financial institutions. Over a 25-year period, she participated in the work of international financial policy committees, such as the Basel Committee on Banking Supervision and the Resolution Steering Group of the Financial Stability Board, often as the workgroup leader. Most recently, she led the Cross-Border Crisis Management Group, which coordinates recovery and resolution planning for global financial institutions.
Christine holds a B.S. and a Ph.D. in Economics from the University of Minnesota.
For further information
Rhiannon Davies, Tel: +44 (0)20 7426 7523
Mark Benhard, Tel: +1 212-314-1199
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About LCH.Clearnet
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.