The director general of the European Central Bank (ECB), Marc Bayle de Jessé (pictured), has been appointed by the US financial institution CLS as chief executive, taking over from David Puth who stepped down last year.
De Jessé joined ECB in 1997 and has held a number of senior positions there including chairman of the European system of central banks.
He oversaw the implementation of ECB’s Target2-Securities – a security settlement engine aimed at allowing investors across Europe to transfer cash and securities using “harmonized rules and practices”.
Based in New York, he will take over from CLS’ interim chief executive Kenneth Harvey in December. De Jessé will also work at the firm’s New Jersey and London offices, as well as making periodic trips to Asia.
Prior to the ECB, De Jessé was senior advisor at the French central securities depositary Sicovam SA’s general secretariat. Now part of the Euroclear Group, Sicovam SA manages the French securities settlement.
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