London - LCH.Clearnet Group Limited said it appointed Stephen Patriarco as global head of collateral services, U.S. Head of Collateral and Liquidity Management (CaLM).

Patriarco will be responsible for developing LCH.Clearnet's collateral management capabilities on a global basis and will provide localised support in collateral and liquidity management to U.S. clients, the company said, adding the appointment demonstrated LCH.Clearnet's commitment to the U.S. Marketplace.

Patriarco previously had his own consulting firm, SJP Financial Consulting Services. Prior to this,he spent 15 years at various major investment banks including Lehman Brothers, Credit Suisse and Merrill Lynch.

Andrew Howat, Group Head of CaLM said: "This appointment reflects CaLM's strategy to continually evolve to meet our clients' growing global demands for effective collateral management solutions and further reinforces our commitment to the U.S. market."