David Hardy was previously group chief executive, LCH.Clearnet Group Limited, where he chaired the Group Management Committee and had overall responsibility for the Group’s strategic objectives and financial targets. Prior to the creation of LCH.Clearnet Group in 2003, Mr. Hardy served as chief executive, The London Clearing House Ltd.(LCH).
Mr. Hardy has worked in clearing since 1985, and became managing director of the London Clearing House division of the International Commodities Clearing House in 1987. This division subsequently became London Clearing House Ltd in 1991. Early in his career Mr. Hardy spent 12 years with Barclays Bank where he worked for the main bank and its affiliates. During his time with LCH, the business grew from clearing London based exchange traded commodity futures and options to become the major international CCP, additionally clearing equity, interest rate swap and government debt trades. Widely seen as an innovator in its field, LCH’s groundbreaking OTC clearing service was established a decade before the present recognition of the benefits of centralized clearing for such products.
Mr. Hardy was a member of the Commodity Futures Trading Commission Global Markets Advisory Committee (GMAC). In the UK, he has served on the Boards of the Futures and Options Association and the Financial Service Authority’s Financial Services Practitioner Panel, which represents a cross-section of regulated firms. From 1993 to 1999, he served on the boards of the International Petroleum Exchange (1993-1999) and the London Commodity Exchange from 1991 until its merger with the London International Financial Futures and Options Exchange in 1996. David Hardy is a Freeman of the City of London and was inducted into the Futures Industry Hall of Fame in 2009.
Read David Hardy’s profile as featured in Risk Magazine.