John Horkan Appointed LCH Group COO
LCH, a leading global clearing house, today announces that John Horkan has been appointed as LCH Group Chief Operating Officer (COO), effective immediately. He assumes this role in addition to his current responsibilities as LCH Head of North America. John will continue to be based in New York reporting to Daniel Maguire, Chief Executive Officer of LCH Group.
As COO, John will work in partnership with the CEOs of LCH’s regulated CCPs, and the senior management team, to deliver the Group’s integrated global strategy across services and entities. He will also ensure a continued focus on best in class risk management, operational resiliency and efficiency.
John joined LCH Group in 2012. Previously he spent 19 years at Bank of America Merrill Lynch and J.P. Morgan where his various roles included Regulatory Reform Program Manager for Global Banking & Markets, COO of Global Markets Sales and Corporate Bond Sales.
Daniel Maguire, CEO of LCH Group said: “I am delighted to confirm John’s appointment as LCH Group’s new Chief Operating Officer. As LCH North America Head, John has played a pivotal role in enhancing relationships with our expanding US-customer base. In his new role, he will oversee the execution of our strategy including driving operational efficiency programmes as we continue to grow the Group’s global business”.
Phase 5 of the uncleared margin rules (UMR) took effect from September 2021.
Temporary equivalence is set to expire on June 30 2022.
IRS trading volumes have fragmented without an equivalence agreement.
Phase 5 of the uncleared margin rules came into effect on 1 September.
Triparty repos can be executed across U.S. Treasury securities to central clearing.