GlobalCollateral, a joint venture of Euroclear and The Depository Trust & Clearing Corporation (DTCC), today announced Olivier Grimonpont will assume the role of CEO on Jan. 1, subject to regulatory approval.
Mr. Grimonpont will also continue in his role as Euroclear group’s global head of collateral management.
Mr. Grimonpont succeeds Michael Shipton who is retiring at the end of the year. Mr. Shipton will remain on the GlobalCollateral Board in a non-executive capacity.
Murray Pozmanter, Managing Director and Head of Clearing Agency Services and Global Operations at DTCC, will also be appointed to the GlobalCollateral Board, subject to regulatory approval.
GlobalCollateral’s mission is to deliver increased efficiency and reduced costs within the highly-fragmented and complex collateral management industry. By drawing on the combined resources and expertise of two of the largest post-trade infrastructure providers in the world, GlobalCollateral offers a truly global solution for efficiently allocating and mobilizing capital globally.
“I would like to take this opportunity to thank Michael for everything he has contributed to GlobalCollateral since its inception three years ago,” DTCC-Euroclear Global Collateral executive director Jo Van de Velde said. “Michael has displayed exceptional leadership and an unquestionable commitment to the joint venture’s success. I am confident GlobalCollateral, under Olivier’s stewardship, will take the next step in its journey to deliver transformational market utilities for margin and collateral processing.”