About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Euroclear Management Reshuffle Continues, May is Next Out of the Door

Subscribe to our newsletter

International central securities depository (ICSD) Euroclear has certainly had its fair share of people moves this year, with the departure of a number of its Xtrakter subsidiary execs earlier this year and the upcoming addition of ex-BNP Paribas Fortis exec Lieve Mostrey as chief technology and services officer at the start of next month. Following a management reshuffle, next out the door is ex-Euroclear UK & Ireland chairman Tim May, who also currently acts as the ICSD’s chief administrative officer and chairman of Xtrakter, as the firm seeks to cut costs and streamline its management team.

The ICSD indicates that it has conducted a strategic rethink about its management committee and decided to reduce the number of execs sitting on the board down to five. In light of May’s impending departure, Frédéric Hannequart will take on his role as chief administrative officer in addition to Hannequart’s responsibilities as chairman of Euroclear Bank, Euroclear Finland, Euroclear Sweden. Bernard Frenay, managing director and head of the Euroclear Financial Division, will replace May as chairman of Trax operator Xtrakter, which Euroclear acquired in May 2009.

According to Euroclear’s CEO Tim Howell, Euroclear the ICSD will benefit from the “leaner” management team, an oblique reference perhaps to the fact that, like network operator Swift, it has also been going through a “lean” exercise over the last year or so.

Reference Data Review last spoke to May back in September last year, at which point he elaborated on the potential of Xtrakter in the reference data space, and in July about the ICSD’s fund processing initiative for risk reduction.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to harness the power and potential of ownership data

The importance of ownership data has escalated over the past few years as financial institutions have acknowledged its potential. Key use cases include integrated risk assessment, which uses ownership data to help financial institutions gain a clear understanding of supplier and customer networks, and identify and mitigate risk. Equally significant is the use of ownership...

BLOG

How to Get Ahead on the Data Governance Journey

Data governance that delivers benefits to the business needs to pull together people, process and technology by embracing data ownership, managing metadata, ensuring data quality, and continually improving automation. These are just some of the guidelines for successful data governance set out by a panel of experts at A-Team Group’s recent Data Management Summit in...

EVENT

RegTech Summit APAC

Now in its 2nd year, the RegTech Summit APAC will bring together the regtech ecosystem to explore how capital markets in the APAC region can leverage technology to drive innovation, cut costs and support regulatory change. With more opportunities than ever before for RegTech to add value, now is the time to invest for the future. Join us to hear from leading RegTech practitioners and innovators who will share insights into how they are tackling the challenges of adopting and implementing regtech and how to advance your RegTech strategy.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...