Clearstream’s GSF head rising in the ranks
10 June 2016 Frankfurt
Image: Shutterstock
Clearstream has promoted Richard Glen from his role as vice president to senior vice president.
Glen was also head of global securities financing (GSF) for the UK, Ireland and the Americas, a role which will now be expanded to include the Asia Pacific region.
He had held the vice president role for more than 10 years, and before this held roles as vice president at BGC Partners and assistant vice president and head of trade settlement services at Dresdner Bank.
The move comes at a challenging time for Clearstream’s GSF business, which saw its fourth consecutive month of dips in volume in April. In its most recent figures, the business reported declines of 16 percent in both its monthly average figures for 2016 so far, and year-to-date in April.
The dip has been attributed to challenging market conditions, regulatory change and less availability for high-quality liquid assets in the market, which are causing a shift towards equities.
Glen was also head of global securities financing (GSF) for the UK, Ireland and the Americas, a role which will now be expanded to include the Asia Pacific region.
He had held the vice president role for more than 10 years, and before this held roles as vice president at BGC Partners and assistant vice president and head of trade settlement services at Dresdner Bank.
The move comes at a challenging time for Clearstream’s GSF business, which saw its fourth consecutive month of dips in volume in April. In its most recent figures, the business reported declines of 16 percent in both its monthly average figures for 2016 so far, and year-to-date in April.
The dip has been attributed to challenging market conditions, regulatory change and less availability for high-quality liquid assets in the market, which are causing a shift towards equities.
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