Euroclear today announced the appointment of Francesco Vanni d’Archirafi as Chairman of the Euroclear group boards, subject to shareholder approval at the company’s General Meeting of Shareholders on 1 July 2021.

Mr Vanni d’Archirafi joins Euroclear from Citigroup where he has been the New York-based Chief Executive Officer of Citi Transaction Services – the global provider of cash management, trade and securities services to multinational corporations, financial institutions and the public sector around the world – and Citi Holdings, where he profitably managed the biggest portfolio of non-core assets and businesses in the industry.

Most recently, he was the Vice Chairman of Banking, Capital Markets and Advisory for EMEA based in London.

Mr Vanni d’Archirafi has led many businesses, committees and boards in a global career that spans 38 years at Citi, including that of long-serving Chairman for Citibank Europe plc and Chairman and CEO of Citibank International plc. He serves on the Boards of Verti Spa and Citibanamex, and was a non-executive director of the LCH Group from 2005 to 2011.

He was a longstanding member of the Board of Mapfre International and is the Chairman of Junior Achievement Worldwide as well as trustee of several not-for-profit enterprises in the UK and Europe, including The Felix Project and the Voluntary Solidarity Fund. He is the Vice Chair of the Advisory Council for The Kogod School of Business at American University and is a member of the International Advisory Board of IESE.

Mr Vanni d’Archirafi will join the boards of Euroclear Holding and Euroclear SA/NV as a non-executive director. Additionally, the General Meeting of Shareholders is expected to approve proposed reforms that will further strengthen Euroclear’s corporate governance, including the alignment of membership of the two boards.

All requisite regulatory approvals regarding the appointment of Mr Vanni d’Archirafi and the reforms to the group’s governance structure have been received.

A period of transition will follow the general meeting in order to ensure a smooth handover. During this transition period, Harold Finders and Franco Passacantando will continue to perform their duties as interim Chairs of the Euroclear Holding and Euroclear SA/NV boards, respectively.

Commenting on his appointment, Mr Vanni d’Archirafi said:

“It is a great honour to be asked to lead the boards of the Euroclear group. The role of resilient, robust, efficient and reliable digital financial market infrastructure has never been more important to enable the trusted operation and continued innovation of the capital markets and the global economy. I look forward to working with shareholders, board members, Lieve Mostrey and the Euroclear management team to continue enhancing the value that Euroclear brings to clients, stakeholders across the post-trade ecosystem and society.”