LCH.Clearnet Group, a UK-based counterparty clearing house, has appointed Michael Davie as CEO of its interest rate swap (IRS) clearing service SwapClear to strengthen its global OTC derivative client clearing offering.
Davie will be responsible to lead the next phase of the development of SwapClear. He will report to Roger Liddell, CEO of LCH.Clearnet.
Davie, who has over 20 years experience in financial services industry, has held a number of senior strategic, trading, marketing and operational positions during this time. Davie is joining LCH.Clearnet from JPMorgan.
Liddell said that clients represent a large proportion of the global interest rate swap market. Michael’s appointment reflects the company’s commitment to delivering OTC derivative clearing services to the buy side and of ensuring that SwapClear’s market leading offering evolves in line with their needs.