Following the successful launch of the Women in Clearing Network, in March 2024 we launched EACH’s Women in Clearing Series, an initiative with the objective of featuring a key female leader on a regular basis to inspire other professionals in the industry.
Laura Bayley is this month’s contributor. Laura is the CEO of SIX x-clear AG, SIX Group’s Swiss CCP. She leads on managing its various operational risks and day-to-day activities, while striving to foster organic growth and enhance the profitability of the wider business. Beyond being directly responsible for building and maintaining essential senior client relationships, she is a key spokesperson for SIX Group and a prominent thought leader in the industry.
Laura also holds the title of Head Clearing Services within SIX group. In this capacity she is responsible for strategic, regulatory and governance topics across the whole clearing area, encompassing the two SIX CCPs, BME Clearing and SIX x-clear.
She also represents SIX x-clear on the EACH Board and is a Member of the Swift Board of Directors.
She joined SIX in 2016, making a name for herself in the projects team, where she helped deliver numerous successful regulatory projects in the post-trade space. Prior to this, Laura worked in a renowned Swiss law firm while attaining her law degree, as well as in international procurement for a global manufacturing company. She holds a double degree in Sinology and Law.
When not immersed in her work, Laura enjoys rediscovering the world with her two young sons, baking extravagant cakes, and throwing elaborate birthday parties.
Laura has volunteered to share with us her personal and professional journey by responding to three questions:
- What was the aspect of yourself that you had to work on the most to get where you are now?
For me, it is impossible to point to any one aspect in isolation. My journey – and I hope I haven’t reached the finish line yet – has been a continuous transformation, not just in a professional sense, but in my personal life too.
I realised quickly that the business world has little time for passivity. I had to become more assertive, address conflicts head-on. To say this was a challenge would be an understatement. It required me to step out of my comfort zone and communicate my needs and opinions more decisively, even at times sternly. While tough, this has been hugely rewarding and beneficial to my career. Assertiveness has allowed me to advocate for myself and my team, helping to ensure our contributions are recognized and valued. Tackling conflicts directly has also allowed me to nip issues in the bud long before they escalate into fully blown confrontations and disrupt the positive working environment. This aspect of my character I continue to refine, as it has proven an essential tenet of effective leadership and professional growth.
Meanwhile, on a personal level, I have had to learn to accept that not everything can be perfect all the time. It’s about making wise sacrifices and picking your battles. For instance, the kids don’t need a five-star home-cooked meal every night – let’s be honest, pasta with Barilla tomato sauce is fine enough for your average Tuesday. This shift in mindset may seem subtle, but it has helped me curb stress and achieve balance, leading to a more relaxed and happy home life. And a happy home is essential to a productive office life.
- What key tip would you give for professionals to successfully develop in their careers?
It may sound a tad trite, but my key tip for career development is to never give up or say no to an opportunity, no matter how tall the hurdle may seem.
Persistence is essential in overcoming obstacles and achieving long-term goals. Embrace challenges as learning experiences and remain open to new opportunities, even if they seem daunting at first. Each and every opportunity will bestow valuable new skills, knowledge, and connections that will undoubtedly prove indispensable down the line. By maintaining a positive attitude and a willingness to take risks, you will chart a career path that will surprise you when you look back, and – most importantly – excite you when you look forward.
- How do you see the future of clearing in 10 years?
I am always pleasantly surprised and encouraged by the number of women who have reached leadership positions across the clearing space, whether within CCPs, regulators, or when engaging with members. But we’re not there yet – there’s still a long road ahead.
Looking at my own team, it would be great to see further progress on our cultural, racial and religious diversity over the next decade. And we are not alone. This is a pressing issue faced across the entire financial industry, at least in Switzerland and Spain. I hope in 10 years’ time we will attract more women from a wider array of cultures and geographies into leadership roles within clearing, contributing to a more inclusive and diverse industry.
Looking beyond diversity, shortening settlement cycles look set to transform the space considerably over the coming decade. I anticipate the role of CCPs evolving to focus to a greater extent on enabling settlement efficiency, while the introduction of more asset classes in the clearing space promises to expand scope.
The consolidation trend witnessed among European CCPs should also continue to gather momentum over the next decade, as greater numbers merge to create multi-asset firms with much broader market reach. Ultimately, this should beckon in a new era for clearing – one characterised by enhanced efficiency and transformative innovation.
Learn more about Laura by reading the attached document and using this link.
Our heartfelt appreciation to Laura for her insightful contribution and we look forward to continuing this EACH’s Women in Clearing Series by hosting many skilled women leaders to inspire other professionals in the clearing sector!
The Women in Clearing network takes the form of a LinkedIn group that participants may use to connect with each other.
