He succeeds Stefan Lepp, who has decided, for personal reasons, to leave the company.

The Executive Board of Clearstream Banking AG now consists of Berthold Kracke, Martina Gruber and Mathias Papenfuß.

Jeffrey Tessler, member of Deutsche Börse’s Executive Board and responsible for Clearstream, said: “With Berthold Kracke, who has been a Member of Clearstream Banking AG’s Executive Board since 2012, we have found a highly competent new CEO with long experience in the market.” He added: “We regret the departure of Stefan Lepp, who has done an excellent job for Clearstream. As Head of Global Securities Financing and Member of the Clearstream Executive Management, Stefan made a major contribution to the development and success of the company, and we wish him all the best for the future.”

Berthold Kracke joined Clearstream in 1998 and has assumed different management responsibilties in the company, primarily in operational areas. He is currently Head of Business Management, responsible for Network Management, Core Product Management and Controls & Quality Management. Berthold Kracke has been in charge of a variety of strategic projects to position Clearstream globally, including setting up the operations hub in Prague and the banking branch in Singapore. Prior to that, he worked at Deutsche Bank AG in Corporate and Institutional Banking, Global Electronic Services. Berthold Kracke holds a PhD in physics (Georg-August University of Goettingen).