SGSS’ Roberto Pecora to Run Euronext Clearing as CEO

Thursday, 25/05/2023 | 21:31 GMT by Solomon Oladipupo
  • Pecora, who replaces Marco Polito, will resume the Rome-based role in July.
  • Euronext Clearing is planning an expansion into the equities market by year-end.
SGSS’ Roberto Pecora to Run Euronext Clearing as CEO

Euronext Clearing, a central counterparty (CCP) owned by the pan-European exchange stock exchange group Euronext, has appointed Roberto Pecora as its Chief Executive Officer and General Manager. Pecora has been serving as the CEO of Societe Generale Securities Services (SGSS), a securities services-focused Italian bank, for the last three and a half years.

Euronext Clearing Hires Industry Veteran

The industry veteran, who spent over two decades at Societe Generale, was selected for the role by the Board of Directors of Euronext Clearing, Euronext said on Thursday. He is expected to resume the role on July 3, 2023.

Pecora brings vast experience from Societe Generate to the new Rome-based position. He will replace Marco Polito who stepped down from his position as the CEO of Italian CCP, Cassa di Compensazione e Garanzia (CC&G), to pursue other professional projects. Also, CC&G is owned by Euronext.

As the CEO, Pecora is charged with running the day-to-day management of Euronext Clearing. Moreover, he will be responsible for the multi-asset clearing arm's engagement with regulators and clearing members.

Euronext Clearing Eyes European Expansion

As a CCP, Euronext Clearing offers clearing services for a wide range of financial instruments, including equities , fixed income, derivatives, and commodities. The firm was founded in 1992 by Borsa Italiana and the London Stock Exchange, and it has been a part of Euronext since 2021.

However, Euronext is making an effort to expand Euronext Clearing into all of its markets. Plus, it expects to start offering equity clearing by the end of 2023 and derivative clearing by the third quarter of 2024. Pecora is expected to be at the forefront of this expansion plan as a member of the Post Trade Leadership Team headed by Anthony Attia, Euronext’s Global Head of Primary Markets & Post Trade of Euronext.

“As Euronext Clearing expansion is progressing according to plan, by 2024 we will offer a unique post trade platform in the European landscape,” Attia noted. “Across all Euronext venues, market participants will benefit from a simplified and common trading and clearing setup, leveraging Euronext Securities to effectively use the full potential T2S with an efficient cross border settlement flow.”

Gate.io in Hong Kong; CFI's new office; read today's news nuggets.

Euronext Clearing, a central counterparty (CCP) owned by the pan-European exchange stock exchange group Euronext, has appointed Roberto Pecora as its Chief Executive Officer and General Manager. Pecora has been serving as the CEO of Societe Generale Securities Services (SGSS), a securities services-focused Italian bank, for the last three and a half years.

Euronext Clearing Hires Industry Veteran

The industry veteran, who spent over two decades at Societe Generale, was selected for the role by the Board of Directors of Euronext Clearing, Euronext said on Thursday. He is expected to resume the role on July 3, 2023.

Pecora brings vast experience from Societe Generate to the new Rome-based position. He will replace Marco Polito who stepped down from his position as the CEO of Italian CCP, Cassa di Compensazione e Garanzia (CC&G), to pursue other professional projects. Also, CC&G is owned by Euronext.

As the CEO, Pecora is charged with running the day-to-day management of Euronext Clearing. Moreover, he will be responsible for the multi-asset clearing arm's engagement with regulators and clearing members.

Euronext Clearing Eyes European Expansion

As a CCP, Euronext Clearing offers clearing services for a wide range of financial instruments, including equities , fixed income, derivatives, and commodities. The firm was founded in 1992 by Borsa Italiana and the London Stock Exchange, and it has been a part of Euronext since 2021.

However, Euronext is making an effort to expand Euronext Clearing into all of its markets. Plus, it expects to start offering equity clearing by the end of 2023 and derivative clearing by the third quarter of 2024. Pecora is expected to be at the forefront of this expansion plan as a member of the Post Trade Leadership Team headed by Anthony Attia, Euronext’s Global Head of Primary Markets & Post Trade of Euronext.

“As Euronext Clearing expansion is progressing according to plan, by 2024 we will offer a unique post trade platform in the European landscape,” Attia noted. “Across all Euronext venues, market participants will benefit from a simplified and common trading and clearing setup, leveraging Euronext Securities to effectively use the full potential T2S with an efficient cross border settlement flow.”

Gate.io in Hong Kong; CFI's new office; read today's news nuggets.

About the Author: Solomon Oladipupo
Solomon Oladipupo
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About the Author: Solomon Oladipupo
Solomon Oladipupo is a journalist and editor from Nigeria that covers the tech, FX, fintech and cryptocurrency industries. He is a former assistant editor at AgroNigeria Magazine where he covered the agribusiness industry. Solomon holds a first-class degree in Journalism & Mass Communication from the University of Lagos where he graduated top of his class.
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