The Supervisory Board of Clearstream Banking AG confirmed Wolf's request to terminate his contract.

Reto Francioni, CEO of Deutsche Börse AG, said: "I very much regret the departure of Andreas Wolf, who has been an integral part of Deutsche Börse Group's management team. He has given decisive impetus to numerous developments in the post-trading area for the German and international markets. I would like to thank Andreas Wolf for his excellent contribution to the success of our company and wish him all the best for the future."

Jeffrey Tessler, CEO of Clearstream International, said: "I would like to thank Andreas Wolf for his constant commitment to Clearstream. In his 12 years of service in various management positions, he has made a major contribution to the development and success of the company. I welcome Stefan Lepp to his additional role as CEO of Clearstream Banking AG. With his outstanding knowledge of the German domestic market and the international post-trading environment, he will take our German central securities depository forward."

Andreas Wolf (43) joined Clearstream in 2000 and occupied various management positions, including Chief Operating Officer (2007 to 2010) and Head of Product Management and Business Strategy (since summer 2010). Andreas Wolf was appointed to the Executive Board of Clearstream Banking AG in 2003 and became CEO in 2007. He has been a member of several Executive Board committees within the Clearstream Group. He also serves as Vice-Chairman of the European Central Securities Depositories Association (ECSDA).

Stefan Lepp (45) has been a member of the Executive Board at Clearstream Banking AG since 2006. He is also an Executive Board member at Clearstream International S.A. and at Clearstream Banking Luxembourg S.A., and is responsible for the Global Securities Financing business area. Before his move to Clearstream in 2004, Stefan Lepp was responsible for sales and business relationships, product management and marketing in Dresdner Bank's custody business area. Stefan Lepp has over 20 years of experience in the sector. He began his career at Zürcher Kantonalbank in Switzerland, where he held a series of management positions in post-trade securities processing.