A former Deutsche Bank board member will join Deutsche Boerse’s executive board to oversee its post-trade business, Clearstream.
Stephan Leithner, currently a partner for Swedish private equity firm EQT Partners, will join the committee in July where he will be responsible for all post-trade businesses, as well as the data and index business.
Leithner replaces Jeffery Tessler, the former Clearstream CEO who has been a part of the executive board since 2004.
Andreas Preuss, the former CEO of its Frankfurt-based derivatives exchange Eurex, will also step down from the executive board.
“My express thanks go to the two long-time members of the board Andreas Preuss and Jeffrey Tessler. Both have Deutsche Boerse a great deal to thank. I am pleased that both have agreed to continue providing advice to the company,” said Joachim Faber, chairman of the supervisory board of Deutsche Boerse.
Leithner was previously a part of Deutsche Bank’s executive board until 2015, who left following the appointment of John Cryan as its new CEO at the time.
He was CEO for Europe except for Germany and the UK, where he was responsible for the bank’s regulatory affairs, compliance and human resources.
However, Leithner was criticised in a report by Germany’s financial watchdog over the Libor scandal.