One more year for Eurex and Clearstream chief
16 November 2017 Frankfurt
Image: Shutterstock
Deutsche Boerse's head of Eurex and Clearstream, Jeffrey Tessler, has had his contract extended by another year by Deutsche Boerse AG’s Supervisory Board.
Tessler is responsible for clients, products and core markets for the two business segments.
Eurex and Clearstream boast the highest revenues within the group, according to Deutsche Boerse.
Tessler took on his current role in January 2016 as part of an extensive reshuffle of board member responsibilities aimed at bundling related areas of the business into single portfolios.
Previously, Tessler was responsible for the group’s settlement and custody business.
Deutsche Boerse AG’s Supervisory Board also confirmed the appointment of UniCredit’s Theodor Weimer as Deutsche Boerse CEO.
Weimer will begin his new role, which is set for a three-year term, in January to replace Carsten Kengeter, who will leave Deutsche Boerse at the end of 2017.
At UniCredit, Weimer has been spokesman of the management board of HypoVereinsbank at UniCredit Bank AG since 2009.
Weimer joined the bank in 2007 as UniCredit Group’s as head of global investment banking, based in Munich.
Alongside Tressler, the board also voted to extend the contract of Andreas Preuss as deputy CEO.
Preuss is responsible for IT, operations, the data business and the subsidiaries EEX and 360T.
Joachim Faber, chairman of the board, said: "By appointing Theodor Weimer and extending the contracts of Andreas Preuss and Jeffrey Tessler, it is possible to give the company new impetus on the one hand and ensure the necessary continuity in the work of the Executive Board on the other hand."
Weimer said: "I am looking forward to a challenging task in a very international and technologically leading global company whose roots lie in Frankfurt as a financial center. In a financial center that should become even stronger. Deutsche Börse will make its contribution to achieve this.”
"Theodor Weimer has strong leadership skills and possesses many years of capital market experience – I am very pleased that he will take over the CEO role,” Faber added.
"On behalf of the entire Supervisory Board, I would like to thank Carsten Kengeter, who established strong new strategic direction for the company in a difficult time and enhanced the company's competitiveness," Faber added.
Kengeter decided to step down as CEO last month amid an ongoing investigation into insider trading activity.
At the time, Deutsche Boerse said he had taken the decision to allow the firm to focus on business, clients and growth, and to avoid further burdens caused by the ongoing investigation.
Tessler is responsible for clients, products and core markets for the two business segments.
Eurex and Clearstream boast the highest revenues within the group, according to Deutsche Boerse.
Tessler took on his current role in January 2016 as part of an extensive reshuffle of board member responsibilities aimed at bundling related areas of the business into single portfolios.
Previously, Tessler was responsible for the group’s settlement and custody business.
Deutsche Boerse AG’s Supervisory Board also confirmed the appointment of UniCredit’s Theodor Weimer as Deutsche Boerse CEO.
Weimer will begin his new role, which is set for a three-year term, in January to replace Carsten Kengeter, who will leave Deutsche Boerse at the end of 2017.
At UniCredit, Weimer has been spokesman of the management board of HypoVereinsbank at UniCredit Bank AG since 2009.
Weimer joined the bank in 2007 as UniCredit Group’s as head of global investment banking, based in Munich.
Alongside Tressler, the board also voted to extend the contract of Andreas Preuss as deputy CEO.
Preuss is responsible for IT, operations, the data business and the subsidiaries EEX and 360T.
Joachim Faber, chairman of the board, said: "By appointing Theodor Weimer and extending the contracts of Andreas Preuss and Jeffrey Tessler, it is possible to give the company new impetus on the one hand and ensure the necessary continuity in the work of the Executive Board on the other hand."
Weimer said: "I am looking forward to a challenging task in a very international and technologically leading global company whose roots lie in Frankfurt as a financial center. In a financial center that should become even stronger. Deutsche Börse will make its contribution to achieve this.”
"Theodor Weimer has strong leadership skills and possesses many years of capital market experience – I am very pleased that he will take over the CEO role,” Faber added.
"On behalf of the entire Supervisory Board, I would like to thank Carsten Kengeter, who established strong new strategic direction for the company in a difficult time and enhanced the company's competitiveness," Faber added.
Kengeter decided to step down as CEO last month amid an ongoing investigation into insider trading activity.
At the time, Deutsche Boerse said he had taken the decision to allow the firm to focus on business, clients and growth, and to avoid further burdens caused by the ongoing investigation.
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