European Depositary Bank, the Luxembourg-based provider of banking, depositary and custody solutions, on Monday announced that it has appointed David Claus as CEO and member of its board of directors. Claus until recently was the Luxembourg head of BNY Mellon.
The bank, known as EDB, is part of Apex Group and is one of the largest providers of depositary services in Europe for regulated Ucits and alternative funds, with over 160 billion in assets under depositary as of May 31.
Claus brings close to three decades of asset servicing and asset management experience from a career spent working in Luxembourg, London and Brussels. He joined EDB in April 2022, before being nominated to the Board of Directors and subsequently taking on the CEO role from June 16.
“I am excited to be joining EDB, a bank with a rich history of enabling institutional investors to directly access the Luxembourg financial market,” Claus said in a statement. “As an independent provider, EDB has an important role to play in offering our clients an agile and responsive cross-jurisdictional service in an ever-changing regulatory environment.”
Former unit of M.M. Warburg & Co.
EDB traces its Luxembourg roots back to 1973, when it was founded as a subsidiary of Hamburg-based private bank M.M.Warburg & Co., making it possible for institutional investors to directly access the Luxembourg financial market. Apex acquired the bank in 2017 and renamed to EDB in 2019.
Before joining EDB, Claus was Luxembourg country head for BNY Mellon, serving as manager of the Luxembourg branch of the Bank of New York Mellon SA and chair of its management committee. Previously he held senior management roles in BNY Mellon’s Asset Servicing business. He joined BNY Mellon in London in 2000 and held various management positions in asset servicing and client management.
Prior to joining BNY Mellon, he ran third party distribution as well as operations for the Luxembourg management company of a continental European fund manager. He started his career in 1994 as a fund accountant in Luxembourg.
“We are pleased to welcome someone of David’s experience to lead and grow our EDB business. EDB’s digital banking, depositary and custody services differentiate our single source offering as a leading global financial services provider,” said David Rhydderch, Global Head of Financial Solutions at Apex Group.
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