LCH today announced that Michel Semaan has joined as the new Global Head of RepoClear.
Mr Semaan will lead RepoClear in the next phase of growth across Europe and the UK, focusing on the expansion of its clearing membership and the development of RepoClear’s Sponsored and Guaranteed Sponsored Clearing models.
He will report to Corentine Poilvet-Clédière, CEO, LCH SA, and Isabelle Girolami, CEO, LCH Ltd. and he will join their respective leadership teams.
Mr Semaan brings has over 25 years of experience in repo markets and a wealth of expertise in trading and global financial markets in the areas of secured and unsecured funding. He is a highly experienced leader of trading teams and businesses, with extensive experience of building and diversifying revenue streams. Most recently, he served as the Global Head of Securities Financing at BBVA.
RepoClear has continued to see impressive growth across both clearing services. A new record was reached in Q3 2024 with €80 trillion nominal cleared across euro debt and gilts, up 3.1% vs Q2 2024. The service is also seeing impressive growth in cash trades, with €4.2 trillion cleared in Q3, up 8% vs Q2 2024. This growth is driven by the participation of over 150 clearing members representing four continents, resulting in over €300 trillion in nominal cleared in 2023, a 44% increase since 2020.
RepoClear at LCH SA is a France registered cash bond, repo trade and €GCPlus triparty basket repo clearing service. Members can clear cash bond and repo transactions across 13 euro debt markets, and additional markets through our €GCPlus triparty basket repo. RepoClear at LCH Ltd. is a UK-registered cash bond and repo trade clearing service. Members can clear UK government bond (gilt) cash and repo transactions, as well as gilt General Collateral repo through our cleared DBV product, Term £GC.
