Appointment of cleared world veteran further strengthens management team in advance of launch of bilateral platform for non-cleared OTC derivatives
NetOTC, provider of innovative risk solutions, today announced that Roger Liddell has been appointed CEO with immediate effect.
Founded in July 2011 as an independent company, NetOTC employs more than 50 staff based in London and New York. Since its inception, NetOTC’s sole focus has been the development of a new generation of risk management and mitigation solutions for the non-cleared OTC derivatives market.
Roger’s previous experience as CEO of LCH Clearnet, the largest global interest rate swaps and leading multi-asset clearing house, brings a pedigree renowned for the provision of a robust and rigorous risk management framework. Roger Liddell was appointed non-executive board member to NetOTC in 2013 and has been closely involved with the firm since 2011.
This strategic appointment has been timed with the launch of the NetOTC bilateral platform designed and built under the direction of Neeraj Sharma and Matthew Durkin, NetOTC's co-founders. Roger's responsibility will be to now bring the platform to market.
Roger Liddell served on the board of LCH Clearnet Group Limited from 2005 and was Group CEO for five years until 2011. Roger was a director of Euroclear from 2000 to 2005 and prior to that date, worked at Goldman Sachs.
Commenting on his appointment, Roger Liddell, CEO, NetOTC, said, “Having spent more than fifteen years in the clearing and post-trade world, I believe that there has never been a more exciting time for the industry, particularly given the G20 appetite for regulatory reform and greater transparency in the non-cleared OTC derivatives market. I am very much looking forward to bringing NetOTC Bilateral to market building on Matt and Neeraj's sterling work in developing the platform and market model."
The NetOTC leadership team is comprised of Bob Wigley, Chairman, Neeraj Sharma, Group CEO and Roger Liddell, CEO. The platform now built, Matthew Durkin has left the company, and Alberto Giovannini and Robert Barnes serve as non-executive board members.
Bob Wigley, Chairman, NetOTC, added, “I am delighted that Roger has accepted the role of CEO which further strengthens our executive management team. His experience and contacts will be invaluable to our ongoing discussions with regulatory and industry bodies, and in ensuring that the banks have everything they need to benefit from the efficiencies that NetOTC’s market infrastructure proposition can offer.”
Commenting further, Neeraj Sharma, Group CEO, Co-Founder, NetOTC, said, “It has been my pleasure to work alongside Matthew Durkin and develop the NetOTC Bilateral market model and platform, and we wish him every possible success in his new ventures. Roger has been a key advisor for many years and we are delighted that he has taken this full time executive post at a time when the industry addresses some of the most pressing regulatory requirements that offer opportunity for collateral management improvement and capital exposure reduction."