The Management Committee of the European Central Securities Depositories Association (ECSDA) has unanimously appointed Giovanni Sabatini, CEO of Monte Titoli, as its new Chairman.
Giovanni Sabatini, formerly Secretary of the Management Committee of the Association, replaces Iain Saville, the outgoing Chief Executive of CRESTCo, the UK Central Securities Depository. Iain Saville has successfully led ECSDA for four years during which ECSDA delivered a range of ground-breaking common standards for communication between settlement systems aimed at reducing the costs of cross-border settlement. The Management Committee expresses its gratitude to Iain Saville for his exceptional leadership and commitment.
The appointment of a new chairman following the resignation of Mr. Saville was regarded by the members of ECSDA Management Committee as a top priority in order to ensure the continuing effort of the organisation in promoting common standards and more efficient and secure settlements across Europe.
Following his appointment, Giovanni Sabatini commented, “The European CSDs have a key role to play in supporting the creation of a single European capital market. It is important that through ECSDA they make their voice heard in the debate on the evolution of this market. It is a privilege for me to lead ECSDA in the period ahead and I look forward to vigorously representing the views of its member organisations.”