Philippe Seyll, formerly a managing director in the fund servicing group at Bank of New York in London, has joined Clearstream as Head of Investment Fund services. He will be based in Luxembourg.
“We are pleased to welcome Philippe Seyll,” says Jeffrey Tessler, CEO of Clearstream. “His appointment reinforces our commitment to developing Clearstream’s range of products and services for the investment funds industry.”
Seyll, who is 42, previously worked for Clearstream CEO Jeff Tessler in London. He assumes control of Vestima +, the automated order-routing service created by Bruno Zutterling, who joined Clearstream after they purchased order-routing technology used in France by CDC.
Zutterling has sought for some time to scale down his involvement with Vestima+, in order to spend more time in his native France, where his home and family remained, and he has a number of other business interests. He will continue to consult to Clearstream.
Riccardo Gambineri, head of product management in the investment fund services group at Clearstream, will report to Seyll.
Philippe Seyll was previously Managing Director, Head of Investment Managers, for The Bank of New York in London. He is a sometime board member of the European Fund Managers Association (EFAMA). A Belgian national, he joined Bank of New York in 1997 from Banque Indosuez Luxembourg, where he was Head of Sales and Marketing. Seyll holds double degrees in management from Hautes Etudes Commerciales de Bruxelles and in IT from University Libre de Bruxelles.
According to Clearstream, Vestima+ processed a record number of mutual fund-related instructions last month of 230,410 – a 54 per cent rise over 124,283 processed in September 2004.