Central Banking

Comment: LCH.Clearnet chief departs

After months of speculation that his days were numbered, David Hardy resigned as chief executive of LCH.Clearnet on 5 July. The announcement was met with an air of inevitability. The episode raises some fundamental questions about the European clearing infrastructure.


The announcement was made after a board meeting of the pan-European clearing system. Hardy's resignation ends a 19-year career with the London Clearing House (LCH), which merged with Clearnet in 2003 to

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