Euroclear Group Taps Francesco Vanni d’Archirafi as Chairman of the Board

Euroclear, a Belgium-based securities Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term firm, has appointed Francesco Vanni d’Archirafi as the new Chairman of the Euroclear Group Board. However, according to the announcement, the naming of the executive is still subject to the approval of shareholders at the General Meeting set for July 1, 2021.

Vanni d’Archirafi comes from an extensive background within the financial industry. He has recently been working as the Chief Executive Officer of Citi Transaction Services. Additionally, he was the Vice-Chairman of Banking, Capital Markets and Advisory for EMEA based in London.

“It is a great honor 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,” the new Chairman of the Euroclear Group Board commented.

Transition Period

Furthermore, Vanni d’Archirafi is set to join Euroclear Holding and Euroclear SA/NV boards as a Non-Executive Director. His appointment comes to fill the group’s target to strengthen both boards’ governance on a corporate basis. Also, the company stated that Harold Finders and Franco Passacantando would remain as interim Chairmen during the transition period once Vanni d’Archirafi’s gets the green light from the shareholders.

“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,” Lieve Mostrey, Chief Executive Officer at Euroclear Group, said.

At the end of May, Finance Magnates reported that Euroclear Sweden tapped Jörgen Olofsson as its new Chief Information Officer.