Clearstream Confirms Departure Of Volker Potthoff

Deutsche Borse Group confirmed today that Volker Potthoff has left the company by "mutual consent" to "pursue new activities"
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Deutsche Borse Group confirmed today that Volker Potthoff, who as managing director of Clearstream International became one of the most prominent figures at the Luxembourg-based ICSD in the last days of Werner Seifert, has left the company by “mutual consent” to “pursue new activities.”

In a statement released today, Deutsche Borse said Potthoff (51) will not actually leave until 30 June 2006, but is being retained for six months as a consultant only.

Potthoff’s last executive position at Deutsche Borse was as Managing Director responsible for Banking & Custody Services. He was also a member of the Group Executive Management at Clearstream International, as well as a member of the Group Executive Management and the Executive Management at Clearstream Banking Luxembourg and Clearstream Banking Frankfurt.

Potthoff spent twelve years at Deutsche Borse Group. The new CEO of Deutsche Borse AG, Reto Francioni, praised his “considerable contribution to the company’s success in the various management positions he has held within Deutsche Borse Group.”

Jeff Tessler, who became CEO of Clearstream International just over a year ago, said Potthoff “helped build momentum in the company’s client focus and Asian operations in particular.”

A lawyer by training, Potthoff joined Deutsche Borse as General Counsel in 1994. He was appointed member of the Executive Board responsible for the Group’s cash market activities in 2000. Following management restructuring and the integration of Clearstream International into Deutsche Borse Group, he assumed the newly created post of Managing Director for Banking & Custody Services at the beginning of 2003. In that capacity he was part of Clearstream’s top management.