Clearstream International has appointed its chief executive officer André Roelants to the position of chairman.
In an expanded role, Roelants will focus on client development, strategic marketing, and financial industry relationships and developments.
He replaces Robert Douglass who will become chairman emeritus and senior advisor to the company. Douglass has served as chairman of Clearstream International and its predecessor company, Cedel International, since May 1994.
Clearstream parent company Deutsche Börse says a search has begun for a new CEO with a new appointment expected by the third quarter 2004.