LSEG announces appointment of new LCH.Clearnet Group CEO
LCH.Clearnet, the multi-national clearing house group, today announces that Suneel Bakhshi has been appointed as its new Group Chief Executive Officer. Subject to final regulatory approval, Suneel Bakhshi is expected to join the organisation in early 2014, at which point Jacques Aigrain, interim Executive Chairman will resume his position as Non-Executive Chairman of LCH.Clearnet Group, alongside his role as Non-Executive Director of London Stock Exchange Group (‘LSEG’).
Upon taking up his position, Mr Bakhshi will also become a member of London Stock Exchange Group’s Executive Committee, headed by LSEG CEO Xavier Rolet. LSEG is a 57.8% shareholder in LCH.Clearnet Group (‘LCH.Clearnet’).
Jacques Aigrain, Executive Chairman of LCH.Clearnet, said: “Suneel is an outstanding business leader with an extensive and proven track record in trading, banking and risk management. 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.”
Suneel Bakhshi, added: “I am excited to be joining LCH.Clearnet at this important time for the business and the industry. Already a highly respected leading international provider, the opportunities for LCH.Clearnet in the delivery of risk management solutions to the world’s capital markets are considerable. As CEO of LCH.Clearnet Group, I will look forward to utilising more than 30 years of global financial industry experience and to joining a business and a team that will undoubtedly play a pivotal role in the future of the global market infrastructure industry.”
BIOGRAPHY - Suneel Bakhshi
Executive Career - Citigroup
2012 - present President and CEO, Citigroup Global Markets Japan Inc., based in Tokyo
2010 - 2011 Chief Risk Officer, Global Commercial Banking, based in London
2008 - 2009 Chief Risk Officer, Global Consumer Group and Citibank, N.A., based in London
2007 Head of Global Commercial Banking, based in London
2004 - 2006 Head of Global Emerging Markets Corporate Banking, based in London
2003 - 2004 Head of Global Emerging Markets Local Finance, based in New York
2000 - 2003 Head Sales & Trading, CEEMEA based in London
1995 - 1999 Head of European Fixed Income Derivatives Trading, based in London
1992 - 1995 Head of Japanese Derivatives, based in Tokyo
1982 - 1992 Risk Treasury, Middle East, based in Dubai and Bahrain
Non Executive Roles – Current and Previous
2002 – present Member of the Managing Committee, Ramakrishna Mission Sevashrama (Charity Hospital), Haridwar, India
2011 - 2012 Member of the Board of Governors, Royal Ballet School London
1997 - 1999 Citigroup representative, International Swaps & Derivatives Association (ISDA)
1997 – 1998 Member of Derivatives Consultative Committee, Bank of England
Educational qualifications include: an MBA from Queen's University in Canada, and a B.Comm (Honours) degree from Shri Ram College of Commerce, Delhi University, India.
Mr Bakhshi also attended the BPSE at IMD Business School in Lausanne, Switzerland.
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For further information:
Victoria Brough, LSEG +44 (0)20 7797 1222
Kamyar Naficy, LCH.Clearnet +44 (0)20 7426 3787
Paul Froud, LSEG +44 (0)20 7797 3322
Notes to editors:
The LCH.Clearnet Group is a leading multi-asset class and multi-national clearing house, serving major exchanges and platforms as well as a range of OTC markets.
LCH.Clearnet’s world-class risk management framework provides exceptional levels of protection to international markets, as has been proven through the management of recent defaults. As demand for robust clearing services continues to grow, LCH.Clearnet is committed to achieving the highest standards of risk management across all asset classes cleared.
LCH.Clearnet is majority owned by London Stock Exchange Group (LSE.L), a diversified international exchange group that sits at the heart of the world's financial community.
For more information on LCH.Clearnet visit www.lchclearnet.com/media_centre.
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801.
The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and the pan-European MTF, Turquoise. Through its markets, the Group offers international business, and investors, unrivalled access to Europe's capital markets.
Post trade and risk management services are a significant part of the Group’s business operations. LSEG operates CC&G, the Rome headquartered CCP and Monte Titoli, the significant European settlement business, selected as a first wave T2S participant. The Group is also a majority owner of leading multi-asset global CCP, LCH.Clearnet.
The Group offers its customers an extensive range of real-time and reference data products, including Sedol, UnaVista, Proquote and RNS, as well as access to over 200,000 international equity, bond and alternative asset class indices, through LSEG’s world leading index provider, FTSE.
London Stock Exchange Group is also a leading developer of high performance trading platforms and capital markets software. In addition to the Group’s own markets, over 30 other organisations and exchanges around the world use the Group’s MillenniumIT trading, surveillance and post trade technology.
Headquartered in London, United Kingdom with significant operations in Italy, France, North America and Sri Lanka, the Group employs approximately 2,800 people.
Further information on London Stock Exchange Group can be found at: www.lseg.com