EuroCCP CEO departs to head up BNY Mellon Pershing’s EMEA business

Incoming CEO will work closely with financial institutions in the region, providing them with custody, clearing, settlement and trading solutions.

BNY Mellon’s Pershing has confirmed the appointment of Cécile Nagel as CEO of its EMEA business, joining the company from EuroCCP where she has served as CEO since 2018.

Effective from October 2022, Nagel will lead the EMEA management team in the UK, Channel Islands and Ireland, working closely with financial institutions, providing them with custody, clearing, settlement and trading solutions. Based in London, Nagel will also become a member of Pershing’s global executive committee.

Commenting on her appointment, Nagel said: “I’m excited to join Pershing’s EMEA business at a critical time for our clients, who are grappling with complex challenges as a result of heightened market uncertainty and changes in the way people and organisations invest their wealth and manage their assets. These institutions already see Pershing as a trusted, long-term solutions provider, and that will not change. I look forward to meeting my new colleagues and building on an impressive growth story for the EMEA business.”

Nagel joins Pershing from EuroCCP, where she has held the role of CEO since 2018. During her time there, Nagel led the launch of its clearing equity derivatives service and oversaw the EuroCCP’s acquisition by Cboe Global Markets in July 2020.

Prior to leading EuroCCP, Nagel held several senior management roles at the London Stock Exchange Group, Oliver Wyman, and the former Financial Services Authority.

Jim Crowley, CEO of Pershing, added: “We are delighted to welcome Cécile to Pershing as CEO of our EMEA business. Following a competitive selection process, we have chosen a high-quality industry professional who shares our vision for growth. Cécile has a demonstrable track record of leading successful, technology-enabled businesses and their people to deliver outstanding client service to financial institutions, safely and efficiently.”

Crowley adds that Pershing’s EMEA business is in a position of strength, as the wealth, asset managers and banks in the region continue to “undergo structural transformation in the way they deliver investment and advice to clients”.

A spokesperson for Cboe told The TRADE: “We have very much valued Cecile’s contributions and leadership at EuroCCP over the past four years and we wish her all the best in her future endeavors. Arnoud Siegmann, chief operating officer at EuroCCP, will assume the role of interim President until a permanent replacement is named.”