LCH.Clearnet has appointed Ed Watts as senior country adviser, to head a new office opened by the Anglo-French independent clearing house in New York.

Watts’ appointment, which takes effect immediately, is designed to support US initiatives, especially LCH.Clearnet’s credit default swap clearing service and the Nodal Exchange, a North American electricity market due to begin operating this year, with LCH as clearer.

Watts joins from Goldman Sachs, where he was a managing director in the operations department. He has also been chairman of the Government Securities Clearing Corp and the Mortgage Backed Securities Clearing Corp – and has sat on the boards of the Depository Trust & Clearing Corp and National Securities Clearing Corp.

“A presence in the US will enable us to respond to market demand and develop our unique OTC clearing expertise. We also foresee interest within the exchange environment,” said Roger Liddell, chief executive of LCH.Clearnet. “We are delighted to welcome Ed to LCH.Clearnet; his experience and understanding of operational issues and the US market make him a valuable member of the team."