Olè, LCH Clearnet (la più grande cassa di compensazione del mondo) alza i margini sui bond Spagnoli con durata superiore a 1 anno e 3 mesi. Ciò significa che chiunque stia usando quei bond come collaterale per rifinanziarsi, dal 25 maggio dovrà versare dei soldi alla cassa di compensazione oppure restituire una parte del finanziamento.
Chiunuque è un modo gentile per dire “banche” e in particolare banche spagnole cariche di Bonos messi come garanzia per ottenere agognata liquidià.
p.s. in pratica LCH Clearnet è un pochino (poco poco)meno sicura che la Spagna fra un anno e 3 mesi rimarrà solvibile
p.s.2: Per capire che razza di “mostro” sia LCH Clearnet vi suggerisco di guardare questo link qui, il “board of director”… banchieri italiani… non pervenuti
LCH.Clearnet Group Limited Board of Directors
Jacques Aigrain - Chairman, LCH.Clearnet Group Limited
Jacques Aigrain is Chairman of LCH.Clearnet Group Limited.
He was CEO of Swiss Re from 2006 to 2009, having joined in 2001 as Head of Financial Services, New York. Prior to this he spent 19 years with JP Morgan Chase, working in the New York, London and Paris offices holding a number of senior roles including Head of Global Health & Chemicals, Co-Head of Global M&A and Co-Head, Client Management.
He is a Supervisory Board Member of Deutsche Lufthansa and Swiss International Airlines and is a Non Executive Director at Resolution, and also serves on the Financial Industry Advisory Board of Apax Partners LLP.
Jacques is a dual French and Swiss citizen. He holds a PhD in Economics from Sorbonne University, and a MA degree in Economics from the Paris Dauphine University.
Ian Axe – Chief Executive, LCH.Clearnet Group Limited
Ian Axe is Chief Executive of LCH.Clearnet Group Limited.
Ian has 17 years experience within the global financial sector having worked in Asia, Continental Europe, South Africa and the U.S. Ian joined LCH.Clearnet from Barclays, where he was most recently COO of EMEA for Barclays Capital and Global Head of Operations for Barclays Capital & Wealth. In addition, he held senior positions including Global Head of Equity Financing, COO for Absa Capital and Asia Business Manager for Barclays Capital.
During his career at Barclays, Ian led a variety of key corporate initiatives including the formation of Barclays Wealth and the development of Absa Capital into South Africa’s premier investment bank. In 2008, Ian moved to the U.S. to oversee the integration of Lehman Brothers and the divesture of BGI. In 2009, Ian returned to the U.K. to take on additional responsibilities as COO EMEA.
Ian has a B/Eng (Hons) in Manufacturing Systems Engineering and an MSc in Business and Operations Management.
Bruno Prigent – Société Générale Group
Bruno Prigent is the Deputy Head of Securities Services at Société Générale.
He joined Société Générale Group in 1984 and held a variety of positions in fund administration, custody and investor services before his appointment to his current role.
Bruno chairs the Boards of SGSS France, SGSS Spa in Italy and SGSS/FDS and he is a Director of the Boards of SGSS companies in Deutschland, Hong Kong and Dublin. He is Vice-chairman of AFTI (French Association of Securities Professionals) and a member of the advisory committee within the management of AMF (French Regulatory Body).
Bruno has a degree in information technology from Paris IX Dauphine.
Christopher Willcox – J.P. Morgan
Christopher Willcox is the Global Head of Rates Trading, Head of Global Rates Strategic Investments, Head of Global FX and FX eCommerce and EMEA Head of SPG at J.P. Morgan. He joined the company in 2006 from Citigroup.
Christopher worked in Citigroup for fifteen years from 1991 to 2006, where he held various roles, including Managing Director and Chief Operating Officer of the Global Fixed Income Business. His last position was as Managing Director and Asia-Pacific Head of Global Rates & Currencies from 2003-2006 and he was responsible for around half the global fixed income revenue in Asia within Citigroup.
Chris gained a BSc in Economics from University College London and subsequently a MSc in Economics from London School of Economics.
Denise Wyllie – Goldman Sachs
Denise Wyllie is co-chief operating officer for the Operations Division of Goldman Sachs and responsible for Operations in EMEA, India and Asia.
She joined Goldman Sachs in 1994 and was named managing director in 2002 and partner in 2008.
Prior to joining the firm, Denise spent time at Citibank and, prior to that, The Whitbread Beer Company as a production manager and brewer.
Denise is a board member of The European Power Source Company (UK) Limited, Rothesay Pensions Management Limited, LCH.Clearnet Group Limited and Colombian Natural Resources.
Denise earned a BSc (Hons) in Biochemistry from Heriot Watt University, Edinburgh.
Edward McAleer – Morgan Stanley & Co International plc
Edward McAleer is a Managing Director at Morgan Stanley & Co. International plc working within the Institutional Securities Group (ISG). Ed is the Head of Bank Resource Management EMEA and is responsible for all client and firm financing activities for Fixed Income, Equity products and counterparty risk management business. Ed has been with Morgan Stanley since 1999. Ed is a member of the Morgan Stanley European Assets Liability Committee (ALCO) and the Global ISG ALCO. He is also a member of the European Market Risk Committee.
Ed has been a member of the European Repo Council since 2001, an industry led initiative in co-operation with ICMA and currently serves as Vice Chairman. He is also a member of the Product Advisory Group for LCH.Clearnet and the RepoClear central counterparty product.
Ed has 23 years of experience in the European Markets having worked at Deutsche Bourse/Clearstream and Tokai Bank.
Edward Pla – UBS
Edward is Managing Director and Global Head of FX Prime Brokerage and Clearing at UBS.
He began his career as an option trader at O’Connor and Associates in Chicago. In 1994 he joined the Swiss Bank Corporation, which later merged with UBS, and held a number of positions in New York and Zurich including interest rate derivative sales, US Head of FX Hedge Fund Sales and Head of FX Business Development.
Ed holds a Bachelor of Science degree in Finance and Philosophy from Boston College and an MBA from the University of Chicago.
Garry Jones – NYSE Euronext
Garry Jones is the Group Executive Vice President and Head of Global Derivatives for NYSE Euronext. He is the CEO of NYSE Liffe, the group’s global derivatives exchange and a member of the NYSE Euronext Management Committee.
Mr. Jones joined NYSE Liffe from ICAP Plc where he was CEO of ICAP Electronic Broking (Europe) and prior to the merger in 2003, CEO and President of BrokerTec Europe Ltd, the bank consortium owned global fixed income electronic trading platform.
Prior to this, Mr. Jones worked for almost 20 years in a variety of senior management roles in trading, sales and research for Investment Banks in the USA and Europe, focussing on the bond and derivatives markets, working for Bankers Trust, Merrill Lynch, Daiwa Securities and Banque Paribas. Mr. Jones has an M.A. from Oxford University and an MBA from Stanford Business School.
He is member of the Board of Directors of the Qatar Exchange and also of the LCH.Clearnet Group Ltd.
Gerard Hartsink – ABN AMRO N.V.
Gerard Hartsink is Senior Executive Vice President of the European Union Affairs and Market Infrastructures Directorate at ABN AMRO. During his career he had managerial roles in sales, product development and operations in several of the Business Units of the ABN AMRO Group.
Today he holds responsibility for the relationship ABN AMRO has with the European Union and for the relationships with the market infrastructures world in the securities, payments and cards industry.
Hervé Saint-Sauveur – Independent
Hervé Saint-Sauveur is director of several institutions. Director and Chairman of the Economic Financial and Fiscal Committee at the Chambre de Commerce de Paris, a member of the strategic advisory board at KPMG France, Director at SOPRA, SOGECAP, VIPARIS, COMEXPOSIUM, Director of The French National Statistics Council, Chairman of LCH.Clearnet SA.
He joined Société Générale’s Economic Research Department in 1973. Between 1980 and 1984, he was head of the SG Planning and Control Department. He then became Chief Executive Officer for Europe Computer Systems (a subsidiary of Société Générale specialising in computer operational lease). In 1990 he returned to SG as head of Operations of the Capital Markets Division. From 1995 to 2002 he was Chief Financial Officer and Head of Strategy of the Group and member of the executive committee. Between 2003 and 2006 he was senior advisor to Société Générale’s Chairman and CEO.
Hervé Saint-Sauveur is a graduate of Ecole Polytechnique in Paris and of ENSAE (Ecole Nationale de la Statistique et de L’Administration Economique).
Ian Abrams – Mizuho International plc
Ian Abrams is currently a non-executive director of Mizuho International plc, (having been Managing Director from 1998 to 2003), a non-executive director of The Pension Protection Fund and the Chairman of Orchard Wealth Management Ltd (Jersey), Director of LCH.Clearnet SA and Chairman of the Audit Committee at LCH.Clearnet SA. He also serves as a member of The Financial Services and Markets Tribunal, The Pensions Regulator Tribunal and The Accountants and Actuaries Discipline Board.
He was a partner at Hoare Govett Stockbrokers, before joining Nomura International in 1988, where he was Managing Director of the European Debt Division. He joined ABN.AMRO in 1995, becoming Executive Vice President and CEO of ABN.AMRO Securities (UK) Ltd.
Ian was educated at the London School of Economics and is a Fellow of both the Institute of Actuaries and the Securities and Investment Institute.
John Townend – Independent
John Townend was appointed an Independent non-Executive Director, Member of Board and Audit Committees and Chairman of Risk Committee at LCH.Clearnet Limited in 2003, and was also appointed to the Group Board and Group Audit Committee in 2007.
After graduating from the London School of Economics, he joined the Bank of England in 1968. During his almost 34 year career there, he held various economic and market related roles including Head of Money Markets Division and Deputy Director for Money, Gilts and Foreign Exchange.
He was the Bank’s representative on the (Europe-wide) Economic and Financial Committee and the Governor’s Alternate at the European Central Bank, as a result of which roles his responsibilities included preparing the City for the introduction of the euro. In 1999 he was appointed Director for Europe for the Bank of England and remained in this position until his retirement in 2002.
Laurent Curtat – Credit Suisse
Laurent Curtat is a Managing Director in the Fixed Income department of the Investment Banking Division of Credit Suisse, based in London.
He is the Head of European Rates Trading encompassing Swaps, Government Bonds, Repo, inflation, Interest Rate Exotics & Options Trading and structuring. Mr. Curtat joined Credit Suisse First
Boston in July 2001 from Morgan Stanley where he was a Director in the fixed income division. He holds a Ph.D. from Stanford University and a B.S. from Ecole Polytechnique.
Lawrence Shaw – Deutsche Bank
Lawrence Shaw is currently the Chief Operating Officer for Global Markets Equity at Deutsche Bank, having first joined the company in 1998.
Mr. Shaw has held positions in the futures market with both Credit Lyonnais and NatWest Markets and is a qualified Chartered Accountant. He was educated at the University of London where he graduated in Anatomy.
Martin Abbott – London Metal Exchange
Martin Abbott was appointed chief executive of the London Metal Exchange on 2 October 2006.
Mr. Abbott has over 22 years experience of the metals industry. He was formerly President and Publisher, AMM LLC and Publisher and Editor-in-Chief, Metals, Minerals and Mining Division of Metal Bulletin PLC: AMM LLC is a wholly owned subsidiary of Metal Bulletin PLC.
He also worked for LME Ring-dealing members AMT and Sogemin and spent three years with the LME from 1990-93.
Martin Ryan – Royal Bank of Scotland
Martin Ryan is the Global Head of Markets Operations for GBM at RBS. He joined RBS in 2009.
In 1994, Martin joined JP Morgan and held a number of positions in London, New York and Tokyo in its Fixed Income Derivatives business. In 2000, he joined Morgan Stanley, running Operations globally for the Equity Derivatives business and then Fixed Income. He was appointed a Managing Director in 2006.
Martin obtained his B.A (Hons) in Economics from Manchester University, England.
Mike Bagguley – Barclays Capital
Mike Bagguley is the Global Head of FX Trading at Barclays Capital, responsible for all aspects of risk and strategic positioning for Barclays Capital FX franchise globally. He has held other senior roles there since 2001, including Head of FX Cash Trading as well as Head of Interest Rate Swaps within the firm’s Fixed Income division in New York, responsible for US Treasury and US Dollar interest rate swap trading.
Prior to Barclays Bank, Mike held various senior positions at leading institutions as Director, Head of Asian Swap Trading at Merrill Lynch and Senior Vice President, Head of Trading Hong Kong at Sanwa FP Co LLC. Mike is a Fellow of the Institute of Actuaries, and is currently a member of the Bank of England Joint Standing Committee and a Director of the Association for Financial Markets Europe.
Mike gained a Bachelor of Science in Mathematics from the University of Warwick in 1988.
Naveed Sultan – Citigroup
Naveed Sultan is the Global Head of Treasury and Trade Solutions for Citi’s Global Transaction Services (GTS) business.
Prior to his appointment to his current role in January 2011, Mr Sultan was Global Transaction Services Region Head for Europe, Middle East and Africa (EMEA). Mr Sultan joined Citi with Saudi American Bank (SAMBA), an affiliate of Citibank, in 1993 where he held several senior positions including Global Transaction Banking Group Head and Senior Country Operations Officer. In 1999, he became the business head for Citi’s Transaction Bank for Western Europe, based in London.
Mr Sultan has wide ranging experience covering Corporate Banking, Corporate Finance, Transaction Banking, Operations & Technology and is a regular speaker and author on such topics. He has also taught Business to Masters graduates at the University of Punjab in Pakistan.
Mr Sultan serves as a director on the board of Citibank Europe plc and Citibank A.S (Turkey), and is also a member of the Management Committees for Citi’s EMEA Operating Committee, Institutional Clients Group and Global Transaction Services.
Mr Sultan holds an M.S. in Management from M.I.T’s Sloan School of Management as well as an M.B.A. from the Institute of Business Administration, Lahore.
Nazir Badat – HSBC Bank plc
Nazir Badat is the Global Head of Markets Operations for CIBM at HSBC. Mr. Badat joined HSBC in October 2006.
In 1992, Mr. Badat joined UBS AG, becoming Managing Director in 1999. During his time at UBS, he held various roles from Business Unit Control to Head of North American Operations for the Investment Banking division. His career at UBS incorporated the responsibility for all businesses including fixed income, equities, prime brokerage, derivatives and foreign exchange. Before joining UBS AG, Mr. Badat worked for five years at Morgan Stanley International in their London office.
Mr. Badat studied at the University of Kent at Canterbury, England, where he graduated with a degree in Economics and Maths.
Olivier Motte – Credit Agricole
Olivier Motte is the Head of Public Affairs at Credit Agricole Corporate & Investment Bank (CA CIB).
He joined the company (then Crédit Lyonnais) in 1993 after 12 years with Banque Paribas, and held a variety of positions including General Manager of Crédit Lyonnais Securities Switzerland and Head of Compliance before his appointment to his current role.
Olivier is a Member of CA CIB’s Management Committee and a CA CIB representative in various industry working groups. He is also a representative and Co-Chairman of AFME’s EPPC (European Public Policy Committee).
Olivier was educated at the Ecole Nationale d’Administration in Paris and has an MA from the Ecole des Hautes Etudes Commerciales.
Vivien Levy-Garboua – BNP Paribas
Vivien Levy-Garboua is a graduate from Ecole Polytechnique and Ecole des Mines in Paris. He also has a Ph.D in Economics from Harvard University (1974).
Mr. Levy-Garboua is currently a Senior Advisor for BNP Paribas, a position he assumed from 1st September 2008.
In 1980 he joined Banque Nationale de Paris and has held a number of positions including Head of Asset Management & Services and Member of the Executive Committee (2000) and Head of Compliance and Internal Control Coordinator (2005).
He is the co-author of various books such as “Monetary Models of the French Economy” and “Contemporary Macroeconomics” (with B. Weymuller).