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LCH, the clearing arm of the London Stock Exchange Group (LSEG), has hired Nick Rustad to lead its SwapClear and Listed Rates divisions.
Rustad is a prominent figure in the clearing industry, having previously served as the global head of derivatives clearing at JP Morgan. He left JP Morgan in early 2023 for a year-long stint at a hedge fund before joining LCH.
In his new role as Group Head of LCH SwapClear and Listed Rates, Rustad will be based in London and report to Susi de Verdelon, CEO of LCH Limited. His responsibilities will include driving performance and growth, as well as ensuring the continued resilience of these critical clearing services.
This appointment comes at a time when LCH’s SwapClear, the world’s leading interest rate swaps clearing house, is facing increasing competition, particularly from Frankfurt’s Eurex Clearing in the Euro interest rate swaps market. Rustad’s extensive experience in derivatives clearing and his prior role as a non-executive board member at LCH as a shareholder representative from 2021-2022, and as chairman of the Futures Industry Association (FIA) from 2020-2022, are expected to be valuable assets to LCH.

Video courtesy of Eurex

Video courtesy of Eurex