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Euroclear to reorganise board

30 November 2010

Euroclear, the European equity and bond clearing house, is to reshuffle its board following the arrival of BNP Paribas Fortis’s Lieve Mostrey as chief technology and services officer on October 1.

Read more: Euroclear Lieve Mostrey

Tim May, chief administrative officer and UK chairman, looks likely to leave. His duties have been reallocated, reducing the number of board members to five. It was proposed at the board meeting at the end of September that May leave Euroclear with effect from October 31.

Frédéric Hannequart will now be UK, Finland and Sweden chair. Bernard Frenay, head of the Euroclear Financial Division, will replace May as chairman of Xtrakter.