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."
