Kjell Arvidsson, Chairman of Euroclear Finland and Euroclear Sweden, has decided to leave Euroclear in the second quarter of 2010.
Mr. Arvidsson, 57 years old and the former Chief Executive Officer of the Nordic Central Securities Depository (NCSD), has played a key role in the successful and smooth integration of Euroclear Finland and Euroclear Sweden into the Euroclear group, following the acquisition in October 2008. He will pursue other interests.
Mr. Arvidsson stated: "It was always my intention to hand over senior management responsibilities, after a proper transition of executive management, following NCSD joining the Euroclear group. I have overseen the successful merger of the Finnish (APK) and Swedish (VPC) central securities depositories to form NCSD in 2004, and then the process of NCSD becoming part of the Euroclear group of CSDs in 2008/2009."
He continued: "I will leave Euroclear confident that clients will benefit from highly efficient and cost-effective post-trade services, supported by larger pools of liquidity and collateral, as part of the Euroclear group. After a decade as CEO and/or Chairman, I now look ahead to other professional challenges."
Pierre Francotte, Chief Executive Officer of Euroclear SA/NV, commented: "We pay tribute to Kjell's vision and long-standing commitment to build a post-trade infrastructure for clients that will best serve their needs, both domestically and internationally, now and in the future. Under Kjell's leadership, the central securities depositories of Finland and Sweden are among the pioneers of post-trade service providers in Europe, breaking boundaries to deliver innovative and client-focused initiatives to effect real and beneficial change. We wish Kjell continued success, and know that he leaves Euroclear Finland and Euroclear Sweden in strong, professional hands. We thank Kjell for all that he has achieved over the years and for preparing a clear strategy for the future."