11 December 2017
visit www.avoka.com

Deutsche Börse appoints Thomas Eichelmann CFO; discloses $2.8bn ISE bid

01 May 2007  |  5362 views  |  0 Thomas Eichelmann, CFO, Deutsche Börse

Deutsche Börse has appointed Thomas Eichelmann as its new chief financial officer (CFO), replacing Mathias Hlubek who quit the German exchange in March.

Eichelmann, 41, currently works for Roland Berger Strategy Consultants. The Börse says it is in discussions with the consultancy regarding when Eichelmann can take up his new role.

Eichelmann joined Roland Berger in 2000 as partner and was appointed member of the worldwide executive board in 2003. He is currently responsible for the firm's financial services competence centre and human resources unit.

Before joining Roland Berger, Eichelmann worked as senior manager for Bain & Company in Munich. From 1994 to 1997 he worked as a consultant for the Boston Consulting Group in Frankfurt.

Eichelmann replaces Hlubek at Deutsche Börse who quit the Börse last month along with chief operating officer Matthias Ganz. Their departures signalled a cultural shift at the exchange, which has been under pressure to revamp its operations and spin off its clearing and settlement businesses after failing to find a merger partner.

However news of Eichelmann's appointment follows disclosure of Deutsche Börse's plans to acquire New York-based International Securities Exchange (ISE) in a deal worth $2.8 billion.

Deutsche Börse will pay $67.50 per share for the electronic exchange, which is a 48% premium to the stock's closing price on Friday.

The Börse says it plans to acquire ISE through its majority-owned Eurex subsidiary, although ISE will operate as a separate unit under US regulations.

The German exchange will contribute 85% of the total purchase price, with its Eurex partner SWX Swiss Exchange putting in the rest. Deutsche Börse says the deal is expected to create $50 million in synergies, mainly in efficiency gains and cross selling opportunities.

Commenting on the takeover deal, Deutsche Börse CEO Reto Francioni, says: "The agreement is a strategic mile-stone for us that will further fuel our strong growth prospects and create significant value for shareholders."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Deutsche Börse in talks to buy ISE

Deutsche Börse in talks to buy ISE

30 April 2007  |  5394 views  |  0 comments
Deutsche Börse restructures operations

Deutsche Börse restructures operations

19 March 2007  |  4856 views  |  0 comments
Deutsche Börse CFO and COO quit

Deutsche Börse CFO and COO quit

08 March 2007  |  4605 views  |  0 comments
Deutsche Börse abandons Euronext bid

Deutsche Börse abandons Euronext bid

15 November 2006  |  6265 views  |  0 comments
Deutsche Börse and Borsa Italiana end merger talks

Deutsche Börse and Borsa Italiana end merger talks

08 November 2006  |  7856 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit http://info.nice.comvisit www.atos.netvisit www.solutions.lexisnexis.com

Who is commenting?

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18519 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11419 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
7860 views comments | 15 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
6657 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
6090 views comments | 19 tweets | 10 linkedin

Featured job

Find your next job