United Kingdom – The London Metal Exchange (LME) has appointed Chris Jones as Chief Risk Officer for LME Clear, which it hails as a major step in the LME’s self-clearing programme. Mr Jones will take up the role in early 2013.
Mr Jones was previously Managing Director and Chief Risk Officer for independent clearing house LCH. Clearnet Group Ltd. ‘During a 20-year career at LCH, Mr Jones was at the forefront of developments in the risk and clearing space, including regulatory change, the launch of several clearing services in new markets and active management of major defaults such as Lehman Brothers and MF Global,’ notes the LME.
Trevor Spanner, Managing Director of post trade services at the LME, comments: ‘His significant experience and market leadership in risk management will prove invaluable to LME Clear and underlines our commitment to building a world-class clearing house.’ According to Mr Spanner, the design and build of LME Clear is ‘well under way’, with the service expected to go live in 2014.
For more information, visit: www.lme.com