LCH Clearnet (LCH-C) has been dealt yet another blow by
losing chief executive Patrick Birley. Birley decided to quit
his position at the company on 16 April and his departure was
made with immediate effect. LCH-C CEO Roger Liddel will take on
Birley's responsibilities in the short-term.
It is unclear what Birley's future intentions are but it is
not believed that he has a new position lined up.
Birley joined LCH-C in May 2005 from London Metal Exchange
(LME) (see FO Week Vol 10 No 18) and was largely
considered to have instigated a number of personnel shifts
within the group. It is believed by some in the industry that
Birley's management style did not sit well with LCH-C and could
have been a reason for his departure. "When he was at the LME
he got frustrated about its lack of forward thinking. Maybe the
same happened at LCH-C," said a source close to Birley when he
worked at LME.
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