Former head of equities at LCH takes on CEO role at Kuwait Clearing Company

New role at the helm of Kuwait CCP, CSD and trustee services businesses for post-trade expert who had held roles with JP Morgan, Soc Gen and Citi.

The Kuwait Clearing Company (KCC) has named experienced securities services executive Alex Krunic as its new CEO.

In the role he will head up the group’s CCP, CSD and trustee services.

Krunic left his role as head of equities at LCH in the summer after just over three years in the role.

During his tenure at LCH, Krunic was responsible for driving EquityClear’s strategy, overall P&L and managing relationships with clearing members and trading venues.  

Krunic’s career has seen him in a range of post-trade roles at Societe Generale, JP Morgan and Citi, among others.

Additionally, he served on the Supervisory Board of AS PrivatBank, Latvia and is a former board member of the Supervisory Board of the National Settlement Division (Russian Central Securities Depository) and advisor to the Euroclear UK and International CEO.

“I am excited to lead such a diverse and vibrant team within KCC, where I think we have a great opportunity to grow and evolve the domestic capital market,” said Krunic. “By safeguarding the interests of our clearing members and building an open, resilient and transparent market infrastructure we have every opportunity to be a regional leader in the post-trade space.”

Krunic moves to the Middle East CCP at a time of great growth in the region, amplified by the arrival and expansion of incumbent custodians such as BNY Mellon, JP Morgan and Northern Trust in recent years.

The Chairman of KCC, Fahad A. Al-Mukhaizeem, said: “We are delighted to welcome Alex to KCC, his experience speaks volumes and we look forward to working with him and his team in order to build a strong and leading market infrastructure in Kuwait with KCC being the backbone of a stable and vibrant capital market, which will serve the needs of our domestic and international investors.”