Euroclear announces directorate changes

Maria Nikolova

Marc Antoine Autheman has decided to step down as the Chairman and Director of the Euroclear boards.

The Euroclear group has announced that Marc Antoine Autheman has decided to step down as the Chairman and Director of the Euroclear boards.

Having steered the business through its response to the current COVID-19 situation, Mr Autheman considered that now was an appropriate time to stand aside, and for the group to appoint a new chairman.

The boards decided to take this opportunity to undertake the ongoing governance reforms at the level of Euroclear Holding (the group’s financial holding and parent company) and Euroclear SA/NV (the group’s fully regulated operating board).

In addition, Bert De Graeve has decided to take this opportunity to step down from his role as independent non-executive director of Euroclear Holding.

Harold Finders and Franco Passacantando will become independent directors at the level of Euroclear Holding SA/NV.

Pending the appointment of a new permanent Chairman, who is expected to be the same for each Board, Mr Finders is appointed as the interim Chairman of Euroclear Holding SA/NV, while Mr Passacantando is the interim Deputy Chairman. At the level of Euroclear SA/NV, Mr Passacantando has been appointed as interim Chairman with Mr Finders as interim Deputy Chairman.

Franco Passacantando has been a director of Euroclear SA/NV since 2013, and has chaired its Risk Committee since 2017. He was also previously on the board of the group’s holding companies, Euroclear plc and Euroclear Holding SA/NV until May 2019. Mr Passacantando held a number of senior positions at the Bank of Italy (including running the payments and market infrastructure area) until his retirement in 2013. He was also an Executive Director of the World Bank from 1995 to 2003 and an Expert Member of the Board of the European Investment Bank from 2013 to 2018.

He has a degree in Statistics from La Sapienza University of Rome and a Master of Arts in Economics from Stanford University.

Harold Finders has been director of Euroclear SA/NV since 2017 and Chair of its Remuneration Committee since 2018. He was previously on the board of the group’s holding companies, Euroclear plc and Euroclear Holding SA/NV until May 2019. Mr Finders was previously CEO of SunGard Financial Systems, leading a worldwide staff of 14,000, providing capital markets and asset management solutions to the world’s leading financial institutions. During this time Mr Finders led several mergers and acquisitions, the largest valued at $800m. He is an investor in several early-stage technology start-ups, speaks four languages, is used to working in diverse multi-cultural organizations, and holds Swiss and Dutch nationality.

Mr Finders has an MBA in Finance (HEC) from the University of Lausanne.

A search will now begin for a new permanent Chairman of the two Boards.

Read this next

Digital Assets

BlackRock bets on crypto bank Silvergate despite drastic fall

BlackRock, the world’s largest asset manager, has increased its stake in Silvergate Bank, a crypto-friendly lender that counts major crypto exchanges like Coinbase and Kraken as clients.

Opinion

A viewpoint from Anatoly Crachilov, CEO and Founding Partner at Nickel Digital, on SEC regulation of the digital asset sector

The SEC’s latest episode comes across as more of a PR performance rather than an act of investor protection.

Digital Assets

Tether denies receiving any loans from Celsius, the opposite is true

World’s largest stablecoin issuer, Tether dismissed reports suggesting that it received a $2 billion loan from the bankrupt cryptocurrency lender Celsius.

Institutional FX

Cboe FX volume makes strong rebound in January

Cboe’s institutional spot FX platform today announced its trading volume for the month ending January 2023, which marks a mild rebound after a steep fall in December.

Uncategorized

XS.com appoints Exness alumni Mohamad Ibrahim as CEO

XS.com, the multi-regulated financial services provider, has appointed Mohamad Ibrahim as the group’s newest chief executive officer (CEO).

Technology

B2Broker Integrates Match-Trader Solution to Expands Its White Label Liquidity Offering

A global provider of technology and liquidity for the FX and cryptocurrency markets, B2Broker recently announced the extension of its white label liquidity offering by merging with Match-Trader.

Digital Assets

UK launches open consultation to regulate crypto exchanges, custody, and lending

The government’s proposed measures have been informed by recent market events – including the failure of FTX – which reinforce the case for effective regulation and sector engagement.

Institutional FX

ViewTrade celebrates record growth with launch of carrying broker services offering

“We have been at the center of the empowerment of the retail investor for decades, supplying the technology to facilitate cross-border access to U.S. markets. Our demonstrated ability to provide a full-service, end-to-end solution to a diverse global customer base continues to prove its value every day.”

Executive Moves

Siege FX names Mathijs Peeters as Head of Distribution Europe, promotes Marek Robertson to CPO

Siege will soon be connected with 10 of the largest 20 Banks and 15 of the top 20 Asset Managers.

<