LME Clear appoints Michael Carty as the new Chief Executive Officer

On July 25, 2023, LME Clear announced the appointment of Michael Carty as Chief Executive Officer and LME Clear Board Director, effective October 2, 2023.

As stated by the LME, Michael brings extensive knowledge and experience in financial infrastructure and technology. He joins LME Clear from Euroclear Group, where he has held various senior roles over the last 15 years, including Chief Information Officer and Chief Operations Officer for Euroclear Sweden and Euroclear Finland, CEO of Euroclear Sweden and, most recently, CEO of Euroclear UK and International.

LME Clear is the clearing house for the London Metal Exchange. Launched during the year 2014, it was designed and built in consultation with the market to provide cost-efficient, EMIR-compliant clearing and settlement services using cutting-edge technology.

Michael commented on his appointment: “It’s an honour to be appointed CEO of LME Clear. I look forward to building on the foundations of innovation and impact that the organisation has become known for since its establishment a decade ago. LME Clear is one of the world’s premier centres for metals clearing and settlement, with an exciting future ahead of it. I am committed to playing my part in ensuring its long-term sustainability and resilience while exploring new ways to progress the business and the market.”

David Warren, the Chairman of the LME Clear Board, said: “I’m delighted to welcome Michael to LME Clear and look forward to working alongside him. A highly regarded industry leader, his expertise and international experience in clearing and financial infrastructure will greatly benefit LME Clear as we evolve and drive forward our business and markets in a dynamic macro landscape. I would like to thank James Cressy for his leadership at LME Clear over the last 12 months, and I look forward to continuing to work with him as we play a pivotal role in the global metals industry.”

Michael Carty will join LME Clear in October, while James Cressy will step down as Interim CEO. However, he will continue his association with LME Group.