Global exchanges and clearing houses operator Intercontinental Exchange announced the appointment of Hester Serafini as President of ICE Clear Europe, ICE’s London-based clearing house.
Serafini has served as Interim President of ICE Clear Europe since February. Prior to that, she served as President and COO of ICE Clear US since January 2017. Kevin McClear was appointed President of ICE Clear US and moves from his current position as Chief Risk Officer at ICE.
Chris Edmonds, Global Head of Clearing & Risk at Intercontinental Exchange commented:
The Board of ICE Clear Europe conducted a thorough search for the new President, reviewing an extensive list of internal and external candidates. Hester’s exceptional knowledge and experience both within ICE and from across global finance, made her the stand out choice.
Ann Cairns, Chair of the Board of ICE Clear Europe, said:
The Board and I have been impressed with how Hester has led the clearing house during some of the most challenging circumstances in our history, overseeing the shift to remote working and successfully clearing unprecedented volumes of transactions.
Since taking over as Interim President in February this year, ICE Clear Europe has safely navigated unprecedented market activity, managing risk between counterparties and demonstrating why clearing is so important to the soundness and stability of the global financial system. I am excited by the opportunity to lead one of the world’s leading and most diverse clearing houses, which works every day to be a reliable and secure marketplace for global transactions.
Serafini has been with ICE since March 2016 where she moved from JP Morgan. There she led the OTC clearing and intermediation business for credit, FX and rates derivatives in Europe, the Middle East and Africa. Before that Serafini served as global head of credit prime brokerage and clearing for Deutsche Bank.
Serafini’s career in finance started ad Goldman Sachs. She held several positions there, including Chief Risk Officer of the Equities Division, Chief Risk Officer of Fixed Income Prime Brokerage and US Head of the Structured Equity-Linked Notes business. She was also member of the firm-wide and equities risk committees, as well as the global compliance and control committee.
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