24 February 2018
visit www.nextgenbanking.co.uk/

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

01 May 2007  |  5422 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  |  5415 views  |  0 comments
Deutsche Börse restructures operations

Deutsche Börse restructures operations

19 March 2007  |  4877 views  |  0 comments
Deutsche Börse CFO and COO quit

Deutsche Börse CFO and COO quit

08 March 2007  |  4626 views  |  0 comments
Deutsche Börse abandons Euronext bid

Deutsche Börse abandons Euronext bid

15 November 2006  |  6287 views  |  0 comments
Deutsche Börse and Borsa Italiana end merger talks

Deutsche Börse and Borsa Italiana end merger talks

08 November 2006  |  7878 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.vasco.comvisit www.ebaday.comvisit www.swift.com/your-needs/instant-payments

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
11678 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10291 views 3 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
8454 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
7989 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7702 views comments | 10 tweets | 14 linkedin

Featured job

Basic c. EUR 90K OTE c. EUR 180K plus full bene...
Paris (preferred) or London

Find your next job