Deutsche Börse has named Bank of New York veteran Jeffrey Tessler as the successor to André Roleants as chief executive officer of international depository Clearstream International.
Tessler has been appointed to Deutsche Börse executive board and will be responsible for banking and custody within the exchange's customers/markets division. He will officially become CEO of Clearstream on 10 December 2004.
He joins Deutsche Börse following a 25-year career with The Bank of New York where he was most recently executive vice president of the bank's global agency brokerage, clearing and financial services outsourcing business BNY Securities Group. Tessler previously served as general manager of The Bank of New York in Europe and was also head of bank's securities industry banking division.
Tessler began his career in 1979 at the Irving Trust Company, which merged with The Bank of New York in 1988.
The current CEO of Clearstream André Roelants will become the company's chairman as of 10 December. In an expanded role, he will focus on client development, strategic marketing, and financial industry relationships and developments.
Robert Douglass, who has served as chairman of Clearstream International and its predecessor company, Cedel International, since May 1994 will become chairman emeritus and senior advisor to Clearstream International.