London Stock Exchange appoints Marshall Bailey chairman of clearing unit

FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville - Copyright Toby Melville(Reuters)

By Reuters

Published on 25/09/2018 - 12:04•Updated 16/04/2024 - 20:14

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(Reuters) - London Stock Exchange Group Plc <LSE.L> said on Tuesday that Marshall Bailey had been appointed chairman of its clearing house LCH.

Bailey, who has spent almost thirty years in the financial services sector, with capital markets, regulatory and risk experience, takes over from Lex Hoogduin, chairman of LCH since March 2015.

Bailey's appointment comes at a time when euro clearing has become a Brexit battleground, with some EU policymakers wanting it moved from LSE's stronghold London, to the single currency area after Britain leaves the bloc next March. LCH clears about 90 percent of euro denominated contracts globally.

(Reporting by Noor Zainab Hussain in Bengaluru; editing by Louise Heavens)

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