The Euroclear Board announces that Tim Howell has accepted the Boards proposal to become Chief Executive Officer (CEO) of Euroclear SA/NV, replacing Pierre Francotte, who announced his decision last June to step down as CEO after ten years in this 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.
After a thorough and comprehensive search to identify the candidate best suited to serve as Euroclears new CEO, the Board is unanimous in its decision to choose Tim Howell, says Sir Nigel Wicks, Euroclear Chairman. Tims 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 groups shareholders and clients.
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, says Tim Howell. I am truly excited to be joining an organization that has so many excellent qualities. I intend to put them to good use in helping Euroclears 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.
I congratulate Tim on his appointment and wish him success in leading Euroclear to a great future. Euroclear has become a pillar of stability and innovation in the financial industry, says Pierre Francotte. We have accomplished much, but more remains to be done. I am confident that Tim will help develop the company even further, with the help of its exceptionally talented management team and staff, and the support of its high-calibre Board of Directors. After ten years at the helm of Euroclear, I am closing this chapter in my professional life with a sense of gratitude to all my colleagues for the excellence they have given to Euroclear all these years. I look forward to a new chapter, pursuing other, non-executive interests in several different domains, both within and outside the financial industry.”
D.C.