Board of Directors

Laurie Adams is Chairman and independent non-executive director of LCH Limited. He is a Chairman of LCH Limited Nomination and a member of Remuneration Committee.

Laurie started his career as a banking solicitor at Allen & Overy in 1979, moving to Grand Metropolitan PLC in 1982 then onto Prudential Bache Inc in 1984 where he founded the UK legal and compliance function. He subsequently became managing director and European general counsel at Lehman Brothers International. From 1990-2000 Laurie served as European Head of Legal & Compliance at Citigroup during which he merged and led the Salomon Smith Barney and Schroders legal teams. Following this, Laurie became Global Head of the Legal & Compliance investment banking wholesale division of ABN AMRO based in London. In 2003 he was awarded Global Internal Counsel of the Year by Legal Business for restructuring ABN AMRO’s worldwide legal function.

In 2004 he became a Director of Siblu Holdings Limited where he co-led a £50m buy-in management buy-out of a French based caravan park business and subsequently refinanced the business for £100m in 2006.

In 2007, Laurie was appointed as a NED and Chair of the Risk Committee at Northern Rock PLC. As a member of the Recovery Board he helped successfully restructure and sell Northern Rock to Virgin Money in 2012.

Laurie was also the EBRD representative on the Supervisory Board of Parex Bank in Latvia from 2008 to 2013 and was a Non-Executive Director of Exane Limited between 2012 and 2019. He also served as a Chairman of the Principality Building Society, the UK’s 6th largest Building Society from 2013 to 2021.

Laurie holds an MA in Jurisprudence from Oxford University.

Susi de Verdelon is CEO at LCH Ltd, where she is responsible for driving continued expansion across LCH’s services, with a focus on sustained growth, innovation and operational excellence. She serves on the Markets Leadership Team.

Susi previously was Group Head of SwapClear and Listed Rates, where her key achievement includes executing the LIBOR transition across 9 markets, launching new data and analytics products, launching a new US ETD clearing service and significantly expanding SwapClear through the Brexit environment and more globally. She also initiated several significant technology programmes. As Group Head, Susi served on the Financial Risk Committee of LSEG, and the LCH LTD ExCo.

Prior to joining LCH in 2017, Susi was a Managing Director in the Securities Division at Goldman Sachs, where she led the front office team in charge of cross-asset regulatory change for Europe. Susi holds an MA in Economics and Management from Oxford University. Susi is a board member, Co-Head of Europe, of Women in Financial Markets (WIFM).

Ron Berndsen is an independent non-executive director of LCH Limited and SA. Ron also serves as Chair of LCH Limited and LCH SA’s Risk Committees and is a member of the LCH Audit Committees.

Ron is Professor of Financial Market Infrastructures and Systemic Risk, Tilburg School of Economics and Management at Tilburg University, on a part-time basis.    

He is editor-in-chief of the Journal of Financial Market Infrastructures and a member of the Advisory Council of the SWIFT Institute.

Ron has held several high profile roles at De Nederlandsche Bank since 1992, in Economic and Monetary Policy, Head of Oversight of Payment and Securities Settlement Systems and most recently acting as Head of Market Infrastructures Policy.

He has also served as a Member of the Committee on Payments and Market Infrastructures and the ECB’s Market Infrastructure Board. He also co-chaired the FSB Group on Cross-Border Crisis Management for Financial Market Infrastructures.

He was awarded a doctorate of Tilburg University in 1992 for his PhD thesis in the area of Economics and Artificial Intelligence.

Jane Guyett is an independent non-executive director of LCH Limited and serves as Chair of its Technology, Security and Resilience Committee. 

Jane spent 15 years with Bank of America Merrill Lynch where she held various roles in London and New York. She was Chief Operating Officer (EMEA and Asia) of the Global Markets Group and sat on the Board of Bank of America Securities. She began her career in Corporate Restructuring at Mitsubishi Bank Ltd London, before joining Bank of America in 1994.

Jane Guyett is the senior independent director of UK Government Investments Limited, a Parliamentary appointment, where Jane is also Chair of Risk and Audit Committee. UKGI is HM Government’s centre of excellence in corporate finance and corporate governance, advising Ministers and Parliament on complex commercial tasks.

Additionally, Jane is a member of the board of Royal London Group, the UK’s largest mutual insurance company. Jane is also Chair of Connect Plus (M25) Plc and Chair of its Risk and Audit Committee.

Until 2016, Jane was a non-executive director of U.K. Financial Investments, advising HMG on their shareholding’s in Lloyds Banking Group, Royal Bank of Scotland plc and U.K. Asset Resolution.  

Jane was awarded a CBE in Her Majesty’s New Years honours list for services to the Economy. Jane graduated from Southampton University with a BSc. Hons Economics.

Andy Hudis is an independent non-executive director of LCH Limited, Chairman of its Remuneration Committee and member of Nomination and Risk Committees. Andy also serves as Chair of the SwapAgent Board and SwapAgent Risk Committee.

Andy began his prestigious career at Goldman Sachs in 1985 as a fixed income researcher. From 1989-2000 Andy ran a team trading bond options and later assumed responsibility for European Government bond trading. He was appointed managing director in 1998. From 2000-2002 he was involved in numerous fixed income initiatives within the e-commerce space and also started serving on the boards of SwapsWire and OTCDerivNet. From 2002-2016 Andy co-ran the global CVA activity for the Rates business. This took a lead role in interpreting and implementing revised capital requirements for fixed income trading, applying appropriate hurdle rates for new activity and managing the usage of capital across the global business. Prior to Goldman Sachs, Andy worked at the Environmental Defense Fund in 1981 conducting research and performing legal advocacy on pollution issues. He then moved to Abelow Ihasz & Co. in 1983 where he was mainly focused on trade and research.

Andy holds a B.A. in Mathematics & M.A. in Chemistry from Dartmouth College.

Carole Machell is an independent non-executive director of LCH Limited and SA. Carole also serves as Chair of the LCH Ltd and SA Audit Committees and is a member of LCH Risk Committee.

Carole held a series of positions at Barclays between 2006 and 2016. These included Head of the International Corporate Business, COO Barclays Wealth Global Head of Operations, Barclays Capital and COO Global Corporate Bank.

Prior to joining Barclays, Carole spent eight years at JP Morgan in a range of Operations, Technology and strategic roles. She has also worked for OMLX, The Swedish Derivatives Exchange as MD of the London exchange and clearing house.

 Carole sits as a NED on the bank boards of Weatherbys, Sainsburys, and DF Capital. She chairs either the Risk or Audit Committee and is a member of the Remuneration Committees.  She was an INED on Crown Agency Bank and the Charities Aid Foundation Bank until mid 2020. She is a Trustee of the Charities Aid Foundation and was previously a Trustee of the JP Morgan Pension Scheme.

Carole has degrees in Classical Studies and Law from Bristol University and Lancaster Gate. She also has a diploma from Christies in Fine Art and early in her career set up and ran a successful antiques gallery in New York. She qualified as a chartered accountant with Ernst & Young in 1991.

Anthony is a non-executive director of LCH Limited and CIO for London Stock Exchange Group. In this role, Tony is accountable to the CCP CEOs for the provision of IT services in each CCP.  He is a member of the Executive Committee of the London Stock Exchange Group (LSEG).

Previously Tony was a Managing Director in IT at Deutsche Bank and was the Group CIO for the bank from March 2011 through November 2013. Before this, he was the CIO for Investment Banking Technology within Deutsche Bank’s Corporate and Investment Bank (CIB).  He spent his first 12 years with the bank based in New York, and spent his last 5 years from August 2009 through July 2014 based in London.

Prior to joining Deutsche Bank in 1997, Tony worked at Morgan Stanley for 12 years during which time he had a five-year assignment in Tokyo, from where he assumed the role of Head of Far East IT for three of those years.  

Tony received a BS in Chemical Engineering from Clarkson University and a MBA  from the State University of New York at Albany.  He was voted ‘CIO of the Year 2007’ from The Banker magazine and was named ‘Best CIO in 2009’ from the American Financial Technology Awards.

Balbir is a non-executive director of LCH Limited and CRO for London Stock Exchange Group. He joined LSEG as Chief Risk Officer in January 2021 and brings a deep commercial understanding and knowledge of risk management.

Balbir was previously Group Head of Non-Financial Risk Management at Deutsche Bank and served on the Supervisory Board of Deutsche Bank Luxembourg S.A. as Chair of its Risk Committee.

Before this, Balbir was Global Head of Operational Risk Management at Credit Suisse, having held a variety of senior roles, including UK Investment Banking Chief Risk Officer and Head of Market Risk.

Balbir started his career at LCH as a risk analyst.

Snigdha is the co-head of EMEA FICC Trading & head of EMEA Markets Initiatives at Bank of America. She is a member of the firm’s EMEA Executive Committee and Regional Risk Committee and serves as a director on the Board of our UK mortgage entities. Her leadership responsibilities include strategy and governance across all our markets businesses and legal entities in EMEA, as well as overall management of EMEA FICC Trading. Snigdha is an Executive Sponsor for Bank of America’s enterprise wide Multi Cultural Leadership Network. She represents the bank at the ECB’s Bond Market Contact Group and Bank of England’s FICC Forum.

Snigdha joined Bank of America’s Rates business in London in 2013. She was appointed head of EMEA Rates Trading in 2020 and co-head of EMEA FICC Trading in 2021. She played a key role in building out Bank of America’s rates franchise across EMEA, as well as extending our continental footprint through the expansion of our Paris sales and trading hub in 2019. Under her leadership, Bank of America was recognised as the Derivatives House of the Year multiple times by Risk, Global Capital and IFR Awards. She successfully led the IBOR transition project for Global Markets from 2018 to 2023.

Prior to joining Bank of America, Snigdha held various positions at HSBC, Insight Investment and Lehman Brothers. Snigdha was named in Financial News’ 100 Most Influential Women in European Finance list in 2020 and 20 Most Influential Individuals in Trading & Technology 2023. Snigdha serves as a trustee of CRIS Cancer UK a non-profit dedicated to facilitating and developing translational cancer research. She is the chair of the GP Singh Foundation a social impact charity that facilitates higher education for underprivileged students from India. She is an alumni of the Indian Institute of Management Ahmedabad and Presidency College Kolkata.

Gary Saunders is a Managing Director and Global Head of Futures Execution and Clearing, OTC Clearing, FXPB for Barclays, based in London. Mr Saunders joined Barclays in 1999 on the graduate scheme. He has worked in a variety of roles in operations, front office risk, treasury, collateral management and product development. He helped develop Barclays portfolio margin solution, ‘Global Netting’, over a period of 10 years which helps reduce the firms risk and optimise clients margin across products. Mr Saunders joined the Futures Clearing Team in 2008 and has progressed through leadership roles in the Barclays Prime business. He holds and has held board and committee level seats at a variety of CCP, trade organisation and industry service providers.

Mr Saunders received a first-class honours degree in Mathematics from Loughborough University where he also played County Level Cricket.

Mr Saunders lives in Kent with his wife and son and enjoys coaching his son’s cricket team in his spare time.