LCH.Clearnet Appoints Patriarco for Collateral Services

LCH.Clearnet has announced the appointment of Stephen Patriarco as its global head of collateral services, and US head of collateral and liquidity management.

Patriarco's remit will include the development of LCH.Clearnet's collateral management capabilities on a global basis, as well as providing support to the company's US client base regarding collateral and liquidity management.

He joins LCH.Clearnet months after the company agreed to an acquisition bid from the London Stock Exchange, which will become a controlling shareholder, and at a time when the clearing house is looking to expand its US footprint.

Formerly a founder at SJP Financial Consulting Services, Patriarco has previously worked in senior positions at Lehman Brothers, Credit Suisse and most recently, Merrill Lynch. His career started at Deloitte in 1982, after graduating from Saint Bonaventure University, where he spent four years before transitioning into investment banking at Drexel Burnham Lambert.