Former ForexClear Chief Joins Bosonic
Posted by Colin Lambert. Last updated: March 23, 2022
DeFi infrastructure provider Bosonic has named former LCH ForexClear chief Paddy Boyle as global head of clearing and derivatives. He will be based in London and report to Rosario Ingargiola, CEO of Bosonic.
The firm says Boyle is charged primarily with further building out the clearing capabilities for the firm and enabling optimal institutional investor adoption via what it terms a “burgeoning” crypto derivatives marketplace. Boyle’s hire follows that of Jason Nabi, who was named chief revenue officer in January 2022.
“We could not have asked for a more qualified individual to lead our charge into the fast-growing derivatives arena and Paddy brings a vital new dimension to our offering and value proposition,” says Ingargiola. “Bringing on someone with his calibre and proven track-record to follow on from Jason joining us demonstrates our clear intent to be a leading player and the pent-up demand for what we have to offer.”
Boyle adds, “Bosonic has built a unique and much-needed platform and I am excited to help build out the derivative and clearing functions of the business.”
Boyle has been consulting for firms involved in the ongoing lawsuits over alleged FX misconduct since stepping down as the global head of ForexClear in February 2021. Prior to his four years at LCH, he was a Partner at Goldman Sachs where he completed a 16-year stint at the investment bank as global head of FX options. As part of that role, he co-ran businesses on hybrid products combining FX with equities, precious metals, oil, and interest rate derivatives desks. During this time he has also sat on the UK’s FX Joint Standing Committee, as well as the board of GFMA’s Global FX Division.