Jacques Aigrain will be the next non-executive chairman of LCH.Clearnet, the clearing house, starting on April 6.
He replaces Chris Tupker, who has held the job since July 2006.
Tupker announced in September his intention to step down. He
was then aged 65. LCH.Clearnet had hoped to find a replacement
by the end of December.
Aigrain had been chief executive of Swiss Re, the reinsurance
company, for three years until he resigned in February 2009
after the company made a record full year loss for 2008 of
Sfr860m. Swiss Re was then forced to take a Sfr3bn cash
injection from Berkshire Hathaway. The loss was caused by
financial investments such as credit default swaps that
suffered Sfr5.9bn of writedowns that year – a business
with which Aigrain was closely associated.
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