Euroclear embarks on senior management reshuffle

Source: Euroclear

Euroclear senior management changes will be implemented gradually during the second quarter of 2007 as a result of the retirement in June 2007 of Martine Dinne, Chief Executive Officer of Euroclear Bank and a member of the Management Committee of Euroclear.

Frédéric Hannequart, currently Chief Financial Officer of Euroclear SA/NV and Euroclear Bank, will take on new oversight responsibilities for the Commercial and Product Management divisions, replacing Martine Dinne in this capacity. He will also become Chairman of the Euroclear Bank Board of Directors, replacing Pierre Francotte, and remains a member of the Management Committee of Euroclear SA/NV. Pierre Francotte continues in his role as Chief Executive Officer and Chairman of the Management Committee of Euroclear SA/NV.

Euroclear's new Chief Financial Officer and member of the Management Committee of Euroclear SA/NV will be André Rolland, who joins Euroclear from Caisse d'Epargne in Paris where he was Chief Risk Officer. Mr Rolland's 33-year career includes senior roles in financial, asset and liability management, treasury and risk management in companies such as JP Morgan, Indosuez, Arthur Andersen and Caisse d'Epargne.

Yves Poullet will become Chief Executive Officer of Euroclear Bank. He is currently Chief Operating Officer of Euroclear Bank. Having joined Euroclear in 1991, Mr Poullet has held a variety of senior positions in the finance, risk management, corporate strategy, product management and operations divisions, and served as Deputy General Manager of Euroclear France in Paris in 2001 and 2002.

Yannic Weber, Managing Director and head of the Commercial Division, will join the Euroclear Bank Management Committee to ensure management continuity, particularly for client-related issues, while retaining his divisional responsibilities.

Commenting on Euroclear's senior management changes, Pierre Francotte, Chief Executive Officer of Euroclear SA/NV, said: "In preparation for Martine Dinne's departure, we are making an orderly transition of responsibilities that will ensure the continued delivery of client-focused, efficient and low-cost securities services. There is an unparalleled pool of talent and experience within the Euroclear group, which helps to manage the transition smoothly while remaining open to strengthen ourselves further with external market talent."

"During her nearly 40-year tenure at Euroclear, Martine has made an incomparable contribution to Euroclear and the securities industry at large. Our lives are richer for having worked with her, while the industry will be poorer for losing a professional who has given so much. We wish her continued good health and years of enjoyment after leaving Euroclear," he continued.

Noting André Rolland's arrival at Euroclear, Mr Francotte said: "We warmly welcome André as a strong member of the team and look forward to sharing the wealth of experience that he will bring to help us achieve our business goals."

Euroclear is the world's largest provider of domestic and cross-border settlement and related services for bond, equity and fund transactions. Market owned and market governed, the Euroclear group includes Euroclear Bank, based in Brussels, as well as Euroclear Belgium, Euroclear France, Euroclear Nederland and CRESTCo, the central securities depositories of Belgium, France, the Netherlands, and the UK and Ireland, respectively. Euroclear recently acquired EMXCo, the UK's leading provider of investment-fund order routing. The total value of securities transactions settled by the Euroclear group is in excess of EUR 350 trillion per annum, while assets held for clients are valued at more than EUR 15 trillion. Euroclear Bank is rated AA+ by Standard & Poor's and Fitch Ratings.

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