Euroclear announced today that Sir Nigel Wicks, currently Deputy Chairman, will succeed A. Chris Tupker as Chairman of both Euroclear plc and Euroclear SA/NV as of 1 January 2007.
Nigel Wicks became Deputy Chairman in September 2002; Chris Tupker has been Chairman since March 2000. Both these positions are non-executive.
Commenting on the Board's election of Nigel Wicks as Chairman, Chris Tupker said: "The Board has conducted a wide-ranging search in order to secure the best possible candidate to continue leading the active user governance at Euroclear after my planned retirement. In Nigel Wicks they have found a highly respected and knowledgeable professional, who will provide strong leadership and continuity at the helm of Euroclear. Nigel has taken a very active role on the Board, particularly with respect to the execution of Euroclear’s business model, working diligently alongside me and the other Board members to shape Euroclear's future in the best interests of its shareholders and users. It is a tremendous privilege for me to work with such a high-calibre Board and management team in leading Euroclear through one of the most exciting and ground-breaking periods in its history."
Sir Nigel Wicks added: "As the new Chairman, I will be delighted to continue the work we have begun and uphold the very active consultative approach we have taken with our clients and our markets on key developments. We are intent on delivering a settlement infrastructure for Europe that allows our capital markets to become even more internationally competitive, while making securities settlement even more efficient, secure and inexpensive for local and foreign investors alike."