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Clearstream selects Isnard as Head of Securities Lending Trading
24 July 2026 UK
Image: Clearstream
Clearstream has appointed Xavier Isnard as head of securities lending trading as Alex Roques steps down following more than 17 years with the company.
Based in London, Isnard brings 15 years of industry experience to his new position, 12 of which he has dedicated to the securities lending team at Clearstream.
Isnard will report to James Cherry, head of Collateral, Lending and Liquidity Solutions, business development, following his promotion.
Prior to joining the firm, he held roles in cross asset solutions sales and exotic rates trading at Societe Generale’s London and Paris offices.
Commenting on the appointment, Cherry says: “We congratulate Xavier and are equally excited to see him step into these new responsibilities knowing that he brings a huge amount of energy and dedication to the role, along with of course many years experience that allow us to have continuity in our day to day dealings with borrowers and lenders alike.”
Roques previously held the position of head of securities lending trading during his tenure at Clearstream, where he oversaw a global team of sales traders, actively trading with over 50 counterparties in products such as securities lending, collateral swaps, or upgrade of collateral.
With more than 20 years of experience within securities finance, spanning securities lending, repo, and collateral management, Roques has decided to leave the firm.
Cherry adds: “Alex has decided to leave the organisation, we fully support and wish him all the best in his future endeavors, he has been a big part of our business for many years and it is with much sadness that we see him go.”
Based in London, Isnard brings 15 years of industry experience to his new position, 12 of which he has dedicated to the securities lending team at Clearstream.
Isnard will report to James Cherry, head of Collateral, Lending and Liquidity Solutions, business development, following his promotion.
Prior to joining the firm, he held roles in cross asset solutions sales and exotic rates trading at Societe Generale’s London and Paris offices.
Commenting on the appointment, Cherry says: “We congratulate Xavier and are equally excited to see him step into these new responsibilities knowing that he brings a huge amount of energy and dedication to the role, along with of course many years experience that allow us to have continuity in our day to day dealings with borrowers and lenders alike.”
Roques previously held the position of head of securities lending trading during his tenure at Clearstream, where he oversaw a global team of sales traders, actively trading with over 50 counterparties in products such as securities lending, collateral swaps, or upgrade of collateral.
With more than 20 years of experience within securities finance, spanning securities lending, repo, and collateral management, Roques has decided to leave the firm.
Cherry adds: “Alex has decided to leave the organisation, we fully support and wish him all the best in his future endeavors, he has been a big part of our business for many years and it is with much sadness that we see him go.”
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