Global clearinghouse, LCH.Clearnet Group, has appointed John Vinci as its newest Head of its Repo Clearing Business – North America, according to an LCH.Clearnet statement.
Mr. Vinci will step into his new role on July 13, 2015, where he will be tasked with the oversight of LCH.Clearnet’s RepoClear service in the United States. In his new role he will be reporting directly to both David Weisbrod, CEO, LCH.Clearnet LLC and Bruce Kellaway, Global Head of Fixed Income, LCH.Clearnet Group.
Mr. Vinci joins LCH.Clearnet with a diverse career in operations, business and risk management, having worked most recently at BNY Mellon. In this capacity he served as its Managing Director, as well as a member of the bank’s Operating Committee. Additionally, he has held senior roles at JPMorgan Chase and Bankers Trust Company.
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According to David Weisbrod, CEO, LCH.Clearnet LLC, in a recent statement on the appointment, “LCH.Clearnet Group is already a market leader in repo clearing and this new appointment will support the business’s growth ambitions in North America, working with our clients and members to deliver greater efficiencies in the US fixed income markets.”
“I am delighted to be joining one of the world’s most important and respected clearing houses. LCH.Clearnet is a global force in repo clearing and end user client clearing, and I am looking forward to developing our US offering,” added Mr. Vinci in an accompanying statement.
Last month, LCH.Clearnet SA, made headlines with the implementation of its CDSClear service, which has begun clearing Markit iTraxx Senior Financials Indices. LCH.Clearnet’s latest initiative will see the consolidation of the clearing of credit default swaps (CDS) referencing banks, in conjunction with some of CDSClear’s clearing members.
LCH.Clearnet is a European-based independent clearinghouse, servicing a multitude of international exchanges, as well as a range of Over-The-Counter (OTC) markets. Additionally, the group clears swaps, equity settlement, energy, bonds and repo and futures.