Under the new leadership structure the current Xetra and Eurex divisions, together with the related clearing services, will be managed in a single business unit, Trading and Clearing Services, as part of Customers/Markets. Deutsche Börse is thus reflecting current developments in its leadership structure: the convergence of cash and derivatives markets as well as the growing need for hybrid products to cover both markets. Further units in Customers/Markets are Banking/Custody, Information Services as well as Technology Services (entory). This means that Customers/Markets will bundle all interfaces to the customers and is intended to realize cross-selling potential that results from the integrated portfolio of products and services.
Operations will be divided into Settlement/Custody, Trading/Clearing/Information as well as Group Functionality, and is thus focused on boosting efficiency, further developing the Group's systems landscape and lowering unit costs.
Technology/Systems is subdivided into Central Support and Delivery as well as Application Development Clearing&Settlement/Custody and Application Development Trading/Consulting; this is where the central development lies for all trading, clearing and settlement systems that are used by the Deutsche Börse Group.
A team consisting of 14 Managing Directors will manage the Group in a committee-based structure with Management Committees, Group Committees and an Executive Committee. The Management Committees are tied to the core functions. The Chief Executive Officer (CEO) is the head of the Customers/Markets Committee; the Chief Operations Officer (COO) will head the Operations Committee; and the Chief Information Officer (CIO) the Technology/Systems Committee. The Group Committees are set up across the core functions: Product Development with the COO as chairman; Risk Management and Compliance headed by the CEO; and Investment as well as Compensation and Policy chaired by the Chief Financial Officer (CFO).
Frank Gerstenschläger, Christoph Lammersdorf and Volker Potthoff will take over responsibility as Managing Directors and report directly to Werner Seifert or respectively André Roelants. Frank Gerstenschläger will continue to be the Chief Executive Officer of entory AG; Christoph Lammersdorf will continue to head Information Services. Volker Potthoff will take over the new business unit Banking and Custody Services at Clearstream.
The Executive Committee will include six of the 14 Managing Directors: Werner Seifert (CEO), Rudolf Ferscha (Head of Trading and Clearing Services), Matthias Ganz (COO), Mathias Hlubek (CFO), Michael Kuhn (CIO) and André Roelants (Head of Banking and Custody Services). In terms of German stock-corporation law, this Executive Committee corresponds to the Executive Board of Deutsche Börse AG with Werner Seifert as Chief Executive Officer and André Roelants as deputy CEO.
Under the new leadership structure, the Group companies Deutsche Börse AG, Clearstream International S.A., Deutsche Börse Systems AG, entory AG and Eurex will continue to exist. The new management structure will not result in the loss of any jobs.
The Deutsche Börse Group is currently the leading provider of infrastructure services for the securities industry, with some 2,000 customers and a focus on Europe, the Americas and Asia. The companies in the Group offer the most efficient and cost-effective process chain with all components, from order entry all the way through to custody, for both equities and derivatives markets. The Group has about 3,200 employees at its locations in Germany, Luxembourg, Switzerland and the USA as well as in representative offices in London, Paris, Chicago, New York, Sao Paulo, Hong Kong and Dubai.
