Euroclear’s Michael Carty to Lead LME Clear as CEO

Euroclear’s Michael Carty to Lead LME Clear as CEO

(IN BRIEF) LME Clear has appointed Michael Carty as its new Chief Executive Officer and LME Clear Board Director, effective from October 2, 2023. With extensive experience in financial infrastructure and technology, Michael joins from Euroclear Group, where he held various senior roles, including CEO of Euroclear UK and International. He expressed enthusiasm for leading LME Clear’s future, emphasizing innovation and sustainability in the metals clearing and settlement arena. James Cressy, the Interim CEO, will remain with LME Group during the transition.

(PRESS RELEASE) LONDON, 25-Jul-2023 — /EuropaWire/ — LME Clear, the clearing house for the London Metal Exchange (LME), is pleased to announce the appointment of Michael Carty as its new Chief Executive Officer and LME Clear Board Director, effective from October 2, 2023.

Michael Carty brings extensive knowledge and experience in financial infrastructure and technology to his new role. He joins LME Clear from Euroclear Group, where he held several senior positions over the last 15 years, including Chief Information Officer and Chief Operations Officer for Euroclear Sweden and Euroclear Finland. He also served as the CEO of Euroclear Sweden and, most recently, as the CEO of Euroclear UK and International.

Michael expressed his excitement about his appointment, stating, “It’s an honor to be appointed CEO of LME Clear, and I look forward to building upon the organization’s reputation for innovation and impact since its inception a decade ago. LME Clear is a leading center for metals clearing and settlement, and I am committed to ensuring its long-term sustainability and resilience while exploring new avenues for business and market progress.”

David Warren, Chairman of the LME Clear Board, warmly welcomed Michael and praised his industry leadership and international experience in clearing and financial infrastructure. He believes Michael’s expertise will be invaluable in driving LME Clear’s business and markets forward in a dynamic macro landscape.

James Cressy, who served as Interim CEO, will step down upon Michael Carty’s arrival in October. However, James will remain with LME Group, ensuring a smooth transition.

About Michael Carty

Michael Carty has been the CEO of Euroclear UK & International since October 2020 and is a member of Euroclear’s Group Executive Committee. With a 15-year tenure at Euroclear, he previously served as CEO of Euroclear Sweden, where he helped the group achieve its CSDR license and strengthened its client proposition in key business lines. He also served on the Board of Directors of Euroclear Finland and Euroclear Sweden.

Before joining Euroclear in 2007, Michael was the Chief Technology Officer of a Brussels-based start-up firm in the steel industry and worked for a consulting firm in France. He holds a double major Bachelor’s degree in Experimental Physics and Computer Science, an MBA from Warwick University, and is pursuing International Director Studies at INSEAD. In his leisure time, Michael enjoys running and reading.

Media contacts:

Miriam Heywood
miriam.heywood@lme.com

Andrea Blumire
andrea.blumire@lme.com

SOURCE: LME