Clearstream Banking AG, a provider of post-trade services for financial services participants, has just appointed Berthold Kracke as its newest Chief Executive Officer (CEO), who begins his term with immediate effect, according to a Clearstream statement.
Mr. Kracke will be succeeding the group’s outgoing CEO, Stefan Lepp, who recently relinquished his position for personal reasons and has parted ways with the company. Following the appointment, Clearstream Banking AG’s Executive Board now consists of the trio of Berthold Kracke, Martina Gruber and Mathias Papenfuß.
Mr. Kracke originally joined Clearstream back in 1998 having assumed a variety of different management responsibilities at the group over the past seventeen years. Prior to the appointment, he was manning the position of Head of Business Management, where he was responsible for Network Management, Core Product Management, and Quality Management.
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Additional stops also include Deutsche Bank AG, having held senior level roles with its Corporate and Institutional Banking, Global Electronic Services prior to joining Clearstream.
According to Jeffrey Tessler, member of Deutsche Börse’s Executive Board and responsible for Clearstream, in a recent statement on the appointment, “With Berthold Kracke, who has been a Member of Clearstream Banking AG’s Executive Board since 2012, we have found a highly competent new CEO with long experience in the market.”
“We regret the departure of Stefan Lepp, who has done an excellent job for Clearstream. As Head of Global Securities Financing and Member of the Clearstream Executive Management, Stefan made a major contribution to the development and success of the company, and we wish him all the best for the future,” he added.
Last week, Clearstream released its financial metrics for the month ending October 2015 across each of its four streams of global business. During October 2015, the value of assets under custody held on behalf of customers registered at Clearstream was reported at $14.1 trillion (€13.2 trillion) – this constituted a rise of 1.5% MoM from $13.9 trillion (€13.0 trillion) in September 2015.