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.
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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.