Societe Generale Securities Services (SGSS) has elected Yasser Zaazaa to the Board of Directors of Misr for Central Clearing, Depository & Registry (MCDR), the authority dedicated to post-trading activities in Egypt.
The organisation is also an active member of AMEDA (Africa & Middle East Depositaries Association), where it holds the presidential office.
In his new role, Yasser Zaazaa, head of SGSS Egypt and SGSS’ regional director for North Africa, will be representing the Egyptian custodian community and working with market participants in order to develop the capital market mechanisms.
MCDR has been established in Egypt since August 1994 to apply the central depository system, effect central registry of securities traded in the Egyptian capital market and facilitate securities trading on dematerialized shares.
MCDR also aims at undertaking clearing and settlement on securities traded in the capital market and applying the Delivery Versus Payment system. The board, made up of 11 members, is elected by MCDR shareholders, mainly local banks and brokerage firms.
Yasser Zaazaa started his career in 1991 in the corporate and investment banking division of MIBank and held several positions within the bank.
In 2004 Yasser established the custody department of MIBank and was appointed as head of Securities Services. Following the merger of NSGB and MIBank, Yasser Zaazaa was appointed country manager at SGSS in Egypt, where he was responsible for the successful implementation of Megara, the modular software for securities services (clearing and settlement, custody).
In 2011 Yasser was appointed SGSS’ regional director for North Africa.
