UK depository CrestCo has appointed Tim May as chief executive, replacing Hugh Simpson who is leaving the Euroclear group.
May is currently chief operating officer of private client investment management firm Gerrard Limited. He is a board member of both Euroclear Bank and Euroclear plc, and a former board member of CrestCo. May is also a board member of the Association of Private Client Investment Managers and Stockbrokers (APCIMS).
For the last 10 years May has been actively involved in securities settlement developments across the UK, including the implementation of a Crest test site at private-client stockbroker Carr Sheppards.
Simpson has been chief executive of CrestCo since November 2002, having been appointed acting CEO in January 2002 following the departure of CrestCo's first chief Iain Saville to Computershare. He was a member of the management committee and has been a member of the board of Euroclear Bank since October 2002.