EXECUTIVE MOVE: Euroclear Picks Mostrey as New Tech Chief Officer
September 3, 2010
Euroclear, the world’s largest group of central securities depositories, has tapped BNP Paribas Fortis executive Lieve Mostrey as its new chief technology and services officer.
Mostrey will take on some of the responsibilities formerly handled by deputy chief executive officer, Ignace Combes, who retired at the end of June. She will become a member of the management committee of the Euroclear group of depositories known as Euroclear SA/NV and executive director of its board.
In her new role, Mostrey will oversee about 2,000 information technology and operations employees scattered in seven offices worldwide and will be responsible for overseeing all of Euroclear's technology and post-trade processing services. Those include settlement, custody and collateral management.
Euroclear SA/NV owns the national central securities depositories in the UK, Ireland, France, the Netherlands, Belgium, Finland, Sweden and international central securities depository Euroclear Bank in Brussels. Settling more than $644.2 trillion worth of transactions annually for clients in more than 90 countries, Euroclear plays a critical role in the post-trade processing landscape. It is in the final stages of a multi-year project -- first announced in 2002 -- to create a single operating system for all of its depositories.
Mostrey’s selection, effective October 1, marks the first senior management appointment made by Euroclear’s new chief executive officer, Tim Howell, who joined Euroclear to replace Pierre Francotte in April. Howell was previously global head of HSBC Securities Services in London, one of Euroclear’s largest clients.
Mostrey is currently a member of the executive committee of BNP Paribas Fortis in Brussels, where she is responsible for IT technology, operations , property and purchasing. She began her career in 1983 within the IT department of Generale Bank in Brussels moving to operations in 1997 and, upon its merger with Fortis in 2006, became country manager for Fortis Bank Belgium. She became chief operating officer of Fortis Bank in 2008, which was acquired by BNP Paribas in 2009.
