LCH. Clearnet appoints new chief executive
LCH.Clearnet, the clearing house subsidiary of the London Stock Exchange, has appointed Suneel Bakhshi as its new chief executive. He will take up his new role in early 2014.
Bakhshi has thirty years of experience in financial services at Citigroup, dating back to his first role in 1982 in risk treasury, Middle East, Citigroup Bahrain. Over the years he has been head of Japanese derivatives based in Tokyo, head of European fixed income derivatives trading based in London, head of global emerging markets and local finance based in New York, head of global emerging markets corporate banking in London, head of commercial banking in london, chief risk officer and most recently president and chief executive of Citigroup Global Markets, Japan.
LCH. Clearnet is a multi-asset class clearing house that also serves OTC markets. The LSE is a 57.8% shareholder in LCH. Clearnet. On taking up his new role Bakshshi will also become a member of the London Stock Exchange Group’s executive committee, headed by chief executive Xavier Rolet.
“Suneel is an outstanding business leader with an extensive and proven track record in trading, banking and risk management,” said Jacques Aigrain, executive chairman of LCH.Clearnet. “He has worked around the world, across asset class and geography, in delivering growth programmes and implementing change and he has an exceptional understanding of the complexities of our industry and the needs of our global customer base. I am delighted that he is joining LCH.Clearnet at this significant time in our history, and I very much look forward to welcoming him to the organisation and working with him and the LCH.Clearnet executive team on continuing to drive our business forward.”
