EuroCCP Names CEO and COO
European Central Counterparty (EuroCCP) has appointed both a CEO and COO. Diana Chan, a former executive at Citi, has been named as the new permanent chief executive officer of EuroCCP, and Trevor Spanner, a former executive at Merrill Lynch, has been named chief operating officer. EuroCCP was named to provide clearing and settlement services for the new pan-European market created by Turquoise, a consortium of nine global investment banks in Europe. This new multilateral trading facility is expected to begin operations next year, and will trade the most liquid traded equity securities in Europe. EuroCCP will use Citi’s Global Transaction Services as its settlement agent. The appointment of Spanner is effective immediately, while Chan will take over as CEO of EuroCCP in mid-November. Chan will report directly to Michael Bodson, executive managing director, DTCC business management, strategy and marketing, and Spanner will report to Chan. Richard R. Macek, who had been serving as the interim CEO for EuroCCP since it was formed, will return to the US.