ECB names new market infrastructure director to oversee TARGET Services

The European Central Bank (ECB) has appointed Ulrich Bindseil as director general of market infrastructure and payments (DG-MIP) taking the lead on all TARGET Services.

Bindseil replaces Marc Bayle de Jesse who left in May to take up the role of CEO at FX settlement infrastructure CLS.

Bayle de Jesse was synonymous with T2S during his time at the ECB, the pan-European settlement system aimed at harmonising the continent’s securities settlement process.

The role makes Bindseil responsible for the oversight of specific market infrastructures and payment instruments, with the department acting as a catalyst to improve the overall functioning of the euro area market infrastructure from an innovation and integration perspective.

Bindseil takes on the role following seven years as director general of the directorate general market operations (DG-M).

Previously, he served as deputy director general of the same directorate general from September 2009 and prior to that headed the ECB’s Risk Management Division.

Bindseil started working in the field of central banking in 1994 in the Economics Department of the Deutsche Bundesbank. He joined the European Monetary Institute in 1997 to work on the preparation of the ECB’s liquidity management. 
 
Bindseil’s appointment will be effective on 1 November 2019.