M Seyll will manage the suite of services Clearstream provides for investment funds which includes Vestima +, the automated order-routing service pioneered by Clearstream. It aims at reducing the costs and difficulties of order processing within the investment funds industry where order routing is still done mostly by fax. Vestima+ also delivers for the first time an open model allowing order issuers to choose their preferred settlement routes.
Last month, the number of investment funds related instructions processed reached record level at 230,410, a 54 percent rise over September 2004 (124,283).
Philippe Seyll was until now Managing Director, Head of Investment Managers for The Bank of New York, London and sat on the board of EFAMA (European funds managers association). M Seyll, a Belgian national, joined Bank of New York in 1997 coming from Banque Indosuez Luxembourg where he was Head of Sales and Marketing.
M Seyll holds double degrees in management from Hautes Etudes Commerciales de Bruxelles and in IT from Université Libre de Bruxelles.
Jeffrey Tessler CEO of Clearstream said “We are pleased to welcome Philippe Seyll. His appointment reinforces our commitment to developing Clearstream’s range of products and services for the investment funds industry”.
