Global clearing house LCH announced on Thursday that it has appointed industry expert Rohit Verma as the new Head of Asia Pacific. Verma will be based in Singapore and take over the role on July 26.

Verma is replacing Kate Birchall, who became LCH’s Head of Sales earlier this year.

He will be responsible for the company’s business across the Asia Pacific region, meaning he will oversee all activities of the clearinghouse operations in Singapore, Sydney and Tokyo. Further, he will sit on LCH’s sales leadership team and be responsible for sales in the region.

Commenting on his new role, Verma said: “Asia is an immensely diverse and dynamic region, and LCH is committed to supporting the markets in mitigating risk and promoting capital efficiencies in multiple asset classes. I am excited to steer LCH’s business in the Asia Pacific, driving growth across the region and enabling our members and their clients to benefit from LCH’s operationally streamlined, capital-efficient risk management platforms.”

Solid Background in Financial Services

Verma brings more than two decades of industry experience to his new role. He joins LCH from Citi, where he spent more than nine years in a couple of key leadership roles: first as the Director of Futures and OTC Clearing and then as the APAC Head of OTC Clearing and FX Prime Brokerage.

In addition, he had more than a couple of years of a stint at Deutsche Bank as a Vice President and before that was LBBW’s Head of Marketing Control in the Asia Branch. He spent years at Credit Suisse and Siemens as well.

“I am delighted to welcome Rohit to LCH to lead our team in Asia,” said Isabelle Girolami, CEO at LCH Ltd. “Rohit has extensive experience of the derivatives markets in Asia and across the world. Asia Pacific is a region of strategic growth and importance for LCH, and I look forward to working with him and our local teams to grow our presence further.”