Ian Axe has today announced that he is to stand down from his position at LCH.Clearnet as CEO.

Mr. Axe has agreed to remain in his position to ensure an orderly handover and a search for a successor has already commenced.

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Ian Axe today made a statement on his intention to step down: “I am extremely proud to have led LCH.Clearnet during a period of significant transformation for the business.”

“The partnership between LCH.Clearnet and the London Stock Exchange Group has been a key achievement, ensuring a clear growth path for our open access horizontal model for clearing across markets and geographies. With the post transaction programme between the businesses well underway, I now feel that I can think about new opportunities.”

Jacques Aigrain, Chairman of LCH.Clearnet, commented: “Ian Axe joined LCH.Clearnet two and a half years ago at a critical moment for the business and has been absolutely instrumental in driving significant change, culminating in the partnership with London Stock Exchange Group.

“It is thanks to him that LCH.Clearnet is well positioned to be the leading global CCP at a time of great opportunity. On behalf of the Board I would like to thank Ian Axe for his contribution and his leadership and we wish him all the best for the future.”