Tim Howell to become Euroclear’s Chief Executive Officer

Tuesday, 05 January 2010 15:41

The Euroclear Board announced in Brussels today (5 January) that Tim Howell has accepted the Board’s proposal to become Chief Executive Officer (CEO) of Euroclear SA/NV. He replaces Pierre Francotte, who announced his decision last June to step down as CEO after ten years in the role.

Tim Howell, 49, is currently the Global Head of HSBC Securities Services, where he is responsible for the custody, fund administration and corporate trust
businesses of the HSBC Group. Previously, he was Group Treasurer, responsible for asset and liability management, and Head of Market Risk. He is a Chartered Accountant, having qualified with Arthur Andersen & Co. Tim Howell has been a Board member of Euroclear SA/NV since 2007 and is also the current Chairman of the Board's Risk Committee.

Sir Nigel Wicks, Euroclear Chairman, said: ‘After a thorough and comprehensive search to identify the candidate best suited to serve as Euroclear’s new CEO, the Board is unanimous in its decision to choose Tim Howell. Tim’s broad experience in the financial markets provides the right qualifications to carry the Euroclear group forward. His experience in managing a successful financial business operating in a number of countries will be of great value to Euroclear in the years ahead. The Board is confident that he will provide the leadership for Euroclear to meet the challenges and opportunities across the global capital markets at this time of rapid change.

The Board of Euroclear looks forward to working closely with Tim in delivering further value to the Euroclear group’s shareholders and clients.’

Commenting on his decision, Tim Howell, said: ‘There are few organisations that have the clarity of vision, depth of management and staff expertise, Board representation and market trust that Euroclear has developed over the years. I am truly excited to be joining an organisation that has so many excellent qualities. I intend to put them to good use in helping Euroclear’s clients find the answer to their future post-trade service needs at Euroclear. I relish the new professional challenges ahead and sincerely appreciate the confidence that the Euroclear Board has with me.’

Pierre Francotte intends to continue in his current role to ensure a smooth transition, until Tim Howell joins Euroclear on a date to be defined.
Euroclear is the world’s largest provider of domestic and cross-border settlement and related services for bond, equity, derivatives and fund transactions.