BNY Mellon’s Luxembourg country head assumes CEO role at European Depositary Bank

Asset servicing veteran takes on new role to lead European depositary over $160 billion of assets.

By Jonathan Watkins

Luxembourg-based European Depositary Bank (EDB) has appointed a BNY Mellon asset servicing veteran as its new CEO.  

David Claus joins the Apex Group-owned depositary from the custodian giant, where he was most recently Luxembourg country head.

Previously he held senior management roles in BNY Mellon’s asset servicing business and was a member of the Management Committee of the Bank of New York Mellon Brussels Branch. Claus joined BNY Mellon in London in 2000 and held various management positions in asset servicing and client management. 

Prior to joining the US custodian, he ran third party distribution as well as operations for the Luxembourg management company of a Continental European fund manager. He started his career in 1994 as a fund accountant in Luxembourg. 

EDB was acquired by Apex Group in 2019 and has over $160 billion of assets under depositary. 

“I am excited to be joining EDB, a bank with a rich history of enabling institutional investors to directly access the Luxembourg financial market,” said Claus. “As an independent provider, EDB has an important role to play in offering our clients an agile and responsive cross-jurisdictional service in an ever-changing regulatory environment.”