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EU: Euroclear CEO rules out mergers

By  |  June 10, 2019

Euroclear is open to a “fundamental transformation,” either through a listing or placing shares with major investors, but is ruling out a merger, the chief executive of Europe’s biggest stock and bond settlement house said.

Euroclear is a cornerstone of Europe’s financial plumbing, ensuring the completion of securities transactions worth €791 trillion (US$893 trillion) last year.

It looked after nearly €29 trillion (US$32.8 trillion)of assets in 2018, about half the European settlement market, and announced in March it has hired Goldman Sachs to look at strategic options, barely a year after Lieve Mostrey became its chief executive.

“We are open to a fundamental transformation of our shareholding, and we would like to do that in an orderly fashion,” Mostrey told Reuters, adding that she will update Euroclear shareholders after the summer.

“We are examining two options, private placement with long term investors, or an IPO. We don’t think we should merge with any party,” the 58-year-old Belgian said.

Full Content: Reuters

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