15.06.2021 – 10:00
Francesco Vanni d'Archirafi appointed new Chairman of Euroclear group
Corporate governance reforms completed, subject to shareholder approval
Euroclear is pleased to announce the appointment of Francesco Vanni d'Archirafi as Chairman of the Euroclear group boards, subject to shareholder approval at the company's General Meeting of Shareholders on 1 July 2021.
Mr Vanni d'Archirafi joins Euroclear from Citigroup where he has been the New York-based Chief Executive Officer of Citi Transaction Services - the global provider of cash management, trade and securities services to multinational corporations, financial institutions and the public sector around the world - and Citi Holdings, where he profitably managed the biggest portfolio of non-core assets and businesses in the industry. Most recently, he was the Vice Chairman of Banking, Capital Markets and Advisory for EMEA based in London.
Mr Vanni d'Archirafi has led many businesses, committees and boards in a global career that spans 38 years at Citi, including that of long-serving Chairman for Citibank Europe plc and Chairman and CEO of Citibank International plc. He serves on the Boards of Verti Spa and Citibanamex, and was a non-executive director of the LCH Group from 2005 to 2011. He was a longstanding member of the Board of Mapfre International and is the Chairman of Junior Achievement Worldwide as well as trustee of several not-for-profit enterprises in the UK and Europe, including The Felix Project and the Voluntary Solidarity Fund. He is the Vice Chair of the Advisory Council for The Kogod School of Business at American University and is a member of the International Advisory Board of IESE.
Mr Vanni d'Archirafi will join the boards of Euroclear Holding and Euroclear SA/NV as a non-executive director. Additionally, the General Meeting of Shareholders is expected to approve proposed reforms that will further strengthen Euroclear's corporate governance, including the alignment of membership of the two boards. All requisite regulatory approvals regarding the appointment of Mr Vanni d'Archirafi and the reforms to the group's governance structure have been received.
A period of transition will follow the general meeting in order to ensure a smooth handover. During this transition period, Harold Finders and Franco Passacantando will continue to perform their duties as interim Chairs of the Euroclear Holding and Euroclear SA/NV boards, respectively.
The Euroclear boards would like to express their gratitude to Mr Finders and Mr Passacantando for their efforts to successfully deliver the corporate governance reforms and for their continued leadership during the transitionary period.
Commenting on the announcement, Mr Vanni d'Archirafi said:
"It is a great honour to be asked to lead the boards of the Euroclear group. The role of resilient, robust, efficient and reliable digital financial market infrastructure has never been more important to enable the trusted operation and continued innovation of the capital markets and the global economy. I look forward to working with shareholders, board members, Lieve Mostrey and the Euroclear management team to continue enhancing the value that Euroclear brings to clients, stakeholders across the post-trade ecosystem and society."
Harold Finders and Franco Passacantando jointly stated:
"Over the past year, we have conducted an extensive and thorough process to identify the right candidate for this important role. Francesco brings a unique combination of expertise and knowledge combined with extensive board level experience that will prove invaluable to the organisation. We look forward to working with him in the months and years ahead."
Lieve Mostrey, Euroclear group Chief Executive Officer, added:
"We are very pleased to welcome Francesco Vanni d'Archirafi to the Euroclear group. On behalf of all the Euroclear teams, we look forward to working with him closely in the next phase of Euroclear's journey."
Euroclear group is the financial industry's trusted provider of post trade services. Euroclear provides settlement and custody of domestic and cross-border securities for bonds, equities and derivatives to investment funds. Euroclear is a proven, resilient capital market infrastructure committed to delivering risk-mitigation, automation and efficiency at scale for its global client franchise.
The Euroclear group includes Euroclear Bank - which is rated AA+ by Fitch Ratings and AA by Standard & Poor's - as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear UK & Ireland. The Euroclear group settled the equivalent of EUR 897 trillion in securities transactions in 2020, representing 276 million domestic and cross-border transactions, and held EUR 32.8 trillion in assets for clients by end 2020. For more information about Euroclear, please visit www.euroclear.com.