A new CIO has been appointed by the clearing house LCH. Clearnet. The organization has appointed Tom Zschach as the CIO this week. The organization provides services to support financial trading and works to serve major exchanges which work on international level. LCH. Clearnet’s work also involves the clearing of a wide range of assets which includes securities, commodities, energy, freight, etc. Tom Zschach worked at Bank of America Merrill Lynch. He worked there as the managing director and was also the co-head of global rates and currencies technology infrastructure. Tom has an experience of about 21 years in the financial industry. He has held the position of senior technology officers at several international investment banks such as Barclays Capital, Credit Suisse First Boston and Lehman Brothers.
The CEO of LCH. Clearnet, Ian Axe said that Tom’s experience in leading technology roles and his deep knowledge of the industry will help the organization to give performance of the highest level and also meet the needs of the customers all around the world. Tom Zschach has been appointed to the office and has to join from 11 July 2011, he has to directly report to Ian Axe. Tom is responsible for supervising the technological infrastructure of the organization. He will thus ensure that company’s clearing solutions remain robust and resilient. Ian says that as the regulators and legislators are looking forward to introduce more products for clearing so, a robust technological infrastructure is very important. Tom says that he finds this time a very interesting one to join the organization. He also looks forward to apply his experience of 21 years and skills to help the organization and the business grow. He is delighted to become a part of an organization like LCH. Clearnet where innovation is given a very high priority.