In a statement issued late on October 31, the group said Lieve Mostrey had been appointed as its new CEO, effective January 1, 2017. Mostrey has been with Euroclear since 2010, when she joined as an executive director and its chief technology and services officer.
Euroclear runs central securities depositories, or CSDs, in the UK, Ireland, Belgium, the Netherlands, Finland, France and Sweden, which handle the settlement of securities transactions.
In 2015 it settled €646.7 trillion in trades, a record for the company.
The appointment of a new CEO comes at a time when Euroclear is migrating its CSDs to the European Central Bank’s Target2-Securities project, a flagship initiative aimed at providing a single settlement platform across the Eurosystem.
Euroclear had been forced to delay its initial migration to the platform but most of its CSDs have now done so. Its Finnish CSD will migrate in September 2017 but, as the UK is not participating in T2S, the UK CSD will not do so.
Euroclear has also been a big investor in new technologies, including the blockchain, aimed an improving efficiencies in the post-trade sector. At September’s Sibos banking technology conference in Geneva, Euroclear-backed startup Taskize unveiled a new tool to help reduce the mapower required to fix failed trades.
In the statement announcing her appointment, Mostrey said: “As the financial industry’s trusted provider of post trade services, Euroclear is entering an exciting new phase of its development, amid the evolution of global capital markets. I look forward to leading Euroclear’s team of dedicated employees, committed to delivering risk-mitigation, automation and efficiency at scale for our global client franchise.”