Chaps appoints Herta von Stiegel as first independent chairman

Source: Chaps

CHAPS Clearing Company Ltd (also known as CHAPS Co) is pleased to appoint its first independent Chairman, Herta von Stiegel, thereby ensuring that CHAPS Co continues to meet the latest governance standards* over the payment scheme. Two additional independent directors will be recruited by the end of June.

Mrs von Stiegel, who formally took up the position at CHAPS Co on May 25th 2013, has over twenty-five years of international management, finance and board level experience, holding senior positions at Citibank, Rabobank, JP Morgan and AIG in London and New York. Until 2005, she was managing director at AIG Financial products, where she had a leading position in the investment banking division. Mrs von Stiegel joins CHAPS Co from Ariya Capital Group Limited, which she founded in 2008, acting as CEO. Ariya Capital focuses on clean energy, infrastructure and agricultural investments, particularly in Africa.

Regarding her appointment, Herta von Stiegel said: "I am delighted to have taken on the role of CHAPS Co's first independent chairman. The scheme plays a critical role in the UK's economy and on the global financial stage, processing over £280 billion pounds every day. I look forward to leading its board and adding value to the organization and its stakeholders."

Phil Kenworthy, CHAPS Co Managing Director, said: "It is a particularly exciting time for CHAPS Co at present, with the expansion of our membership and recent enhancements to the core system. Herta brings a wealth of international experience and skills to our board and we look forward to working together with her."

Previously, Mrs von Stiegel served on the board of Camco International, a publically listed global clean energy developer, with significant operations in China, the US and Africa, where she chaired the audit committee for four years and also served on the remuneration, audit and nominations committees. Whilst at Citibank, she transferred from the US to London as senior tax counsel to concentrate on the bank's operations in Europe. Amongst her many successes was the lobbying of the European Commission, regulators and tax authorities across Europe for changes in legislation and practices.

In addition to her corporate roles, Mrs. von Stiegel is also founder and former chair of the PrinPrince's Trust Women's Leadership Group, working closely with His Royal Highness, the Prince of Wales. She is a member of the Committee of 200, where she chaired the C200 Foundation board, and served on the Women's Leadership Board at Harvard University's Kennedy School of Government. She is also the author of 'The Mountain Within - Leadership Lessons and Inspiration for Your Climb to the Top', published by McGraw Hill in 2011, which was inspired by her climb of Mount Kilimanjaro.

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