Ignace Combes will retire as deputy chief executive of Euroclear by mid-2010, when he reaches the age of 60 after a 34 year career with JP Morgan and Euroclear.

He plans to offer his experience to financial and non-financial companies as a board member, including for start-up companies.

Pierre Francotte, chief executive of Euroclear, praised Combes’s tenure at the company and impressive legacy: “Not only has Ignace been instrumental in building Euroclear as the industry leader, he also has contributed to the development of the post-trade industry itself, working very closely over the years with market participants within both the trading and post-trading sectors for the benefit of the market.”

Combes joined Euroclear in 1976 when the firm was operated by Morgan Guaranty Trust Co of New York.