EMXCo names Euroclear's Yannic Weber CEO

EMXCo names Euroclear's Yannic Weber CEO

Brussels-based depository Euroclear has installed its UK and Ireland chief executive officer Yannic Weber as CEO of subsidiary firm EMXCo, which provides electronic messaging to automate the flow of investment fund orders.

Weber - who continues in his role as Euroclear UK and Ireland CEO - will replace Max Wright at EMXCo. Wright has been at EMXCo for six years and became a member of the Euroclear Group management team after it agreed to buy the UK firm in December 2006.

Wright will walk away from the post at the end of the year. He says: "I feel the time is now right with EMXCo firmly established as part of the industry infrastructure under the ownership of Euroclear for me to look for other challenges and opportunities."

His successor, Weber joined Euroclear in 1983 and in 1996 he became a member of the Euroclear management team and was promoted to managing director. His most recent position was head of the commercial division, based in Brussels, before moving to London in September 2008 to take up his current role.

Outlining his plans, Weber says: "As one of my top priorities, I aim to deliver a fully automated UK investment fund processing solution, from order routing through to settlement, for both domestic and non-UK fund professionals."

Jo Van de Velde, managing director and head of product management, Euroclear, will also join the EMXCo board from 1 January 2008. Tony Wood remains deputy CEO of EMXCo with Leanne Middleton continuing in her role as head of operations.

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