LCH Appoints Michel Semaan as Global Head of RepoClear to Drive Growth in Euro and Sterling Repo Markets

LCH Appoints Michel Semaan as Global Head of RepoClear to Drive Growth in Euro and Sterling Repo Markets

(IN BRIEF) LCH has appointed Michel Semaan as the new Global Head of RepoClear, where he will lead the service’s next growth phase, focusing on expanding clearing memberships and advancing RepoClear’s Sponsored Clearing models. Reporting to the CEOs of LCH SA and LCH Ltd., Michel brings over 25 years of repo market expertise. RepoClear has recently seen record growth, with significant increases in cleared euro and sterling transactions, positioning it as a key player in resource optimization and risk management for global market participants.

(PRESS RELEASE) LONDON, 5-Nov-2024 — /EuropaWire/ — LCH has appointed Michel Semaan as the new Global Head of RepoClear, where he will spearhead the service’s growth across Europe and the UK. In his role, Michel will oversee RepoClear’s expansion, focusing on increasing clearing membership and advancing its Sponsored and Guaranteed Sponsored Clearing models. He will report directly to Corentine Poilvet-Clédière, CEO of LCH SA, and Isabelle Girolami, CEO of LCH Ltd., joining both of their leadership teams.

With over 25 years of experience in repo markets, Michel brings extensive expertise in secured and unsecured funding, along with a strong background in managing trading teams and developing diversified revenue streams. Prior to this, he served as Global Head of Securities Financing at BBVA.

Daniel Maguire, CEO of LCH Group and Group Head of Markets at LSEG, expressed confidence in Michel’s appointment, noting that RepoClear’s clearing services have become increasingly vital for market participants aiming to optimize resources, enhance risk management, and reduce costs. Michel’s experience will be instrumental in delivering new services and diversifying RepoClear’s membership base.

RepoClear has recently achieved record-breaking growth, with €80 trillion in nominal cleared euro debt and gilts in Q3 2024—a 3.1% increase from Q2. Cash trades cleared also surged to €4.2 trillion, marking an 8% increase. Currently, RepoClear serves over 150 clearing members from four continents, contributing to a total of €300 trillion in nominal cleared in 2023, a 44% increase since 2020.

RepoClear at LCH SA, based in France, provides a range of euro-denominated debt and repo clearing services, while LCH Ltd. in the UK offers gilt clearing and DBV products for UK government bonds, supporting a wide network of global market participants.

About Us

LCH. The Markets’ Partner. 

LCH builds strong relationships with commodity, credit, equity, fixed income, foreign exchange (FX) and rates market participants to help drive superior performance and deliver best-in-class risk management.

As a member or client, partnering with us helps you increase capital and operational efficiency, while adhering to an expanding and complex set of cross-border regulations, thanks to our experience and expertise.

Working closely with our stakeholders, we have helped the market transition to central clearing and continue to introduce innovative enhancements. Choose from a variety of solutions such as compression, sponsored clearing, credit index options clearing, contracts for differences clearing and LCH SwapAgent for managing uncleared swaps. Our focus on innovation and our uncompromising commitment to service delivery make LCH, an LSEG business, the natural choice of the world’s leading market participants globally.

Media Contact:

Harriet Leatherbarrow
Tel: +44 (0)20 7797 1222
Fax: +44 (0)20 7426 7001
Email: newsroom@lseg.com
Website: www.lseg.com

SOURCE: LSEG