LCH appoints two new directors

The London Clearing House (LCH) has made David Pritchard and David Robins non-executive directors of the company, effective from November 26.

Pritchard is currently group director, wholesale and international banking at Lloyds TSB, the UK's third largest bank, where he presides over a division with 22,000 staff. He was seconded to the Securities and Investments Board (SIB) between 1996 and 1998, where he was responsible for regulation and supervision of the UK’s markets and exchanges, as well as for SIB’s international activities.

Robins, meanwhile, began his career at the Bank of England then spent 18 years with UBS Group, in London, New York, Tokyo and Zurich, finally becoming chief executive of UBS UK and head of Europe. In 1998, he became chief executive and subsequently chairman of ING Barings, where he was charged with reorganising and refocusing its business.

Sir Michael Jenkins, LCH chairman, said: “LCH now runs a wide range of business services and is a key part of the financial services infrastructure. In this important and fast-changing environment we are delighted to be able to draw on the skills and experience of David Pritchard and David Robins, which will complement and enhance those of existing board members.”

LCH became the only non US-domiciled central counterparty to achieve formal registration by the Commodity Futures Trading Commission, the US regulator, as a derivatives clearing organisation earlier this month.