Michael Davie Appointed CEO of SwapClear
In order to strengthen its global over-the-counter (OTC) derivative client clearing offering, LCH.Clearnet has appointed Michael Davie chief executive officer (CEO) of SwapClear, its interest rate swap (IRS) clearing service. In this new role, Davie will lead the next phase of the development of SwapClear, which will focus on delivering products and services to the buy-side. He will report to Roger Liddell, CEO, LCH.Clearnet.
Liddell said: “Clients represent a large proportion of the global interest rate swap market. Michael’s appointment reflects our 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.”
Davie has over 20 years experience in financial services and has held a number of senior strategic, trading, marketing and operational positions during this time. He joins LCH.Clearnet from JP Morgan.