Deutsche Börse Group will redistribute responsibilities of its executive board, effective 1 January 2016.
The decision will see related areas of duty bundled into new board portfolios.
The newly-created clients, products and core markets division will combine derivatives trading businesses, including the International Securities Exchange, the clearinghouse as well as Clearstream’s settlement and custody business.
Clients, products & core markets will also be responsible for coordinating group-wide product development as well as global sales activities.
The division will be headed by Jeffrey Tessler who was previously responsible for the group’s settlement and custody business.
Another new grouping will be the IT and operations, data and new asset classes division.
This second new division will combine Deutsche Börse’s IT activities and market operations, including IT application and architecture, IT operations, and market operations.
MD & S, Deutsche Börse’s market data business, 360T, the recently-acquired electronic foreign exchange trading platform, as well as EEX, the European energy exchange, will also belong to this division.
Oversight of these areas will be headed by deputy group CEO, Andreas Preuss.
Previously, Preuss was responsible for the cash and derivatives division.
Deutsche Börse’s cash market businesses, comprising Xetra, the Frankfurt Stock Exchange and the certificates and warrant businesses, will regain divisional status, given its high political as well as macroeconomic importance.
Hauke Stars lead this cash market, pre-IPO and growth financing division.
In addition to the ongoing development of cash markets, this division will expedite the creation of a pre-IPO market and will also aim to develop growth-financing instruments.
Deutsche Börse Venture Network, as well as the Capital Markets Academy, will therefore belong to this division.
CFO Gregor Pottmeyer will continue to be responsible for group finance, comprising financial accounting and controlling, strategic finance, investor relations, treasury, risk management and compliance, as well as group organisational services.
CEO Carsten Kengeter will be directly responsible for group strategy and M&A, group portfolio-management, legal, audit as well as marketing, communications and government relations.
Kengeter said: “With the grouping of responsibilities and related issues, we have taken a step towards an organisation that is tailored to the needs of markets and clients. I am looking forward to a comprehensive cooperation with all board areas.”
