LCH names ex RBS exec James Pearson to head ForexClear
London Stock Exchange Group clearing unit LCH has announced that it has appointed James Pearson as Head of ForexClear, effective 1 June 2021. Based in London, James will be responsible for LCH’s FX derivatives clearing service, reporting to Isabelle Girolami, CEO of LCH Ltd.
James Pearson joins at a time of continued growth at ForexClear, with $19.1 trillion cleared across the service in 2020. In January 2021, ForexClear went live clearing Non Deliverable Options, a complementary product to its existing offering of non-deliverable FX forwards, deliverable FX options and deliverable FX forwards.
James Pearson has over 20 years of experience working in FX. Previous roles include Global Head of FX Trading at RBS, where he was responsible for the trading risk, daily management and strategic direction of the FX business. Prior to RBS, James held positions as Global Head of G10 FX Spot Trading & EMEA Head of Emerging Markets FX at Nomura and Lehman Brothers. He has also worked on FX Spot and NDF trading desks at Citi and HSBC and has sat on a number of FX industry advisory boards.
Isabelle Girolami, CEO, LCH Ltd, said:
“I am delighted to welcome James to LCH as Head of ForexClear. He brings extensive experience of trading FX and leading global teams. He will be instrumental in driving continued growth and innovation at ForexClear, with a focus on expanding the deliverable FX and client clearing franchises. I look forward to working with him to deliver more innovations and efficiencies to our customers and the wider market.”
James Pearson added:
“Thanks to the risk management benefits and the efficiencies of clearing, there is a great opportunity for even more participants to benefit from access to ForexClear. I am excited to be joining LCH and working with the team to further develop this rapidly growing service.”
LCH operates clearing houses around the world, with clearing houses incorporated in the UK and France and with offices in the United States and the Asia Pacific region. It offers clearing services across asset classes including OTC and listed rates; CDS and FX; fixed income; commodities; cash equities and equity derivatives. LCH also serves the non-cleared derivatives market through LCH SwapAgent, a service which extends the efficiencies and infrastructure of clearing to the market, without acting as a central counterparty.
LCH is majority owned by London Stock Exchange Group, an international markets infrastructure business that sits at the heart of the world’s financial community.