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

The LME has said that Michael brings with him a wealth of 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.

Commenting on his appointment, Michael said: “It’s an honour to be appointed CEO of LME Clear and 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 and it has 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, 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 be of great benefit to 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.”

James Cressy will step down as Interim CEO of LME Clear, remaining with LME Group when Michael Carty joins LME Clear in October.