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Clearstream shuffles board members

10 December 2004  |  1454 views  |  0 Source: Deutsche Boerse Group

Clearstream International, the settlement and custody division of Deutsche Börse Group, on Friday announced changes to the composition of its board, effective December 10.

As of that date, André Roelants has become chairman of the board. He replaces Robert R. Douglass, who has served as chairman of Clearstream International and its predecessor company, Cedel International since May 1994; Mr. Douglass has been appointed honorary chairman and senior advisor. Successor to André Roelants as CEO of Clearstream International is Jeffrey Tessler, who was already appointed to the executive management board of Clearstream's parent company Deutsche Börse AG in October.

From 10 December 2004, in addition to Jeffrey Tessler, five new members have been appointed to the board of Clearstream International: Antonio Zoido (presidente, Bolsa de Madrid), Michel Bois (chairman of the executive board, CDC Ixis Investor Services), Francesco Vanni d' Archirafi (CEO, Citigroup Global Transaction Services (EMEA)), Guillaume Fromont (directeur général, Credit Agricole Paris) and Ralf Gissel (Vorstandsvorsitzender Deutsche WertpapierService Bank AG). These appointments are subject to regulatory approval.

Leaving the board will be David Van Pelt (formerly CEO, Cedel International); Charles McVeigh (co-chairman, Citigroup Global Markets) and Laurent Vieillevigne (membre du directoire, CDC Ixis Paris).

The board members of Clearstream International play an active role in overseeing the development of the company and represent the major segments of the international and domestic securities markets across the globe. The 24 member board provides guidance as a key element of strategy formulation and will continue to steer the group through its progressive development.

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