LSEG Names Marshall Bailey as Chairman of Clearing House LCH Group

The London Stock Exchange Group (LSEG) announced this Tuesday that Marshall Bailey has been appointed as the chairman of its Clearing House Clearing House A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e Read this Term LCH Group (LCHG). He has also joined LSEG’s Board as an Independent non-Executive Director along with Ruth Wandhöfer.

Bailey’s new position, which is effective immediately, follows Professor Lex Hoogduin stepping down as Chairman of LCHG. He has been a member of LSEG’s Board since December 2015 and chairman of LCHG since March of the same year. Hoogduin will continue to serve as chairman of LCH Ltd and LCH SA. He will also continue as an independent director of LCHG.

Spanning for nearly three decades, Bailey has had an extensive career in the financial services sector. During this time he has gained considerable experience in capital markets, regulatory and risk. Currently, he is the Chair of the Financial Services Compensation Scheme.

Previously, Bailey has served as a non-Executive Director of UK Financial Instruments. Throughout his career, he has held a number of senior roles such as President of ACI Financial Markets Association and Senior Managing Director at State Street Global Markets.

Ruth Wandhöfer to Join the Board of LSEG in October

Wandhöfer’s position, on the other hand, will be effective from October 22, 2018. Her most recent position was at Citi where she was the Global Head of Regulatory & Market Strategy for Treasury and Trade Solutions.

At Citi, Wandhöfer spent more than a decade in various regulatory roles in the transaction services area. During her career, she has earned a wealth of knowledge in the fintech and RegTech sectors. For four years, Wandhöfer was a Policy Adviser on Securities Services and Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term at the European Banking Federation.

Commenting on the new additions, Donald Brydon, Chairman of LSEG plc, said: “on behalf of the Board, I would like to welcome Marshall Bailey and Ruth Wandhöfer to the Board. They both bring to the Group extensive experience of regulated global financial markets. Marshall’s knowledge, gained from Board and management positions in the UK and around the world, will allow him to offer valuable commercial and regulatory insight to LCH Group and LSEG."

“Ruth’s background in regulatory and technology change within complex businesses will be of great benefit to the Group as we continue to develop our global business. I would like to thank Professor Lex Hoogduin for his commitment and significant contribution in his role as a Non-Executive Director of LSEG and as Chairman of LCH Group Limited over the past three years. I am pleased that the Group will continue to benefit from his experience as Chairman of LCH Ltd and LCH SA.”