Integration row as LCH boss leaves

News

Integration row as LCH boss leaves

Christian Annesley

christian.annesley@rbi.co.uk

The chief executive of pan-European clearing house LCH.Clearnet resigned last week following boardroom disputes over the company's failure to merge its technology platforms in the three years since it was created.

David Hardy's decision to step down comes less than two months after the departure of chairman Gérard de La Martinere. Their exit follows last year's write-down of nearly £14m spent on the long-delayed integration of the firm's two trading platforms.

When LCH and Clearnet merged in 2003, a key driver was the "significant savings" from platform consolidation.




 

Related Topics: IT strategy, VIEW ALL TOPICS

Email Alerts

Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.
 

COMMENTS powered by Disqus  //  Commenting policy