GSTP, the post-trade processing utility established by the Global Straight Through Processing Association (GSTPA) and vendor coalition axion4, has appointed Deutsche Bank director Jurgen Marziniak as chief executive officer, replacing acting CEO Steven Crosy.
Crosby, a managing director at KPMG Consulting, has served as acting CEO of GSTP since its formation in 2000. He says it was always intended that the utility would seek the services of a senior industry leader as its chief executive.
Crosby will remain actively involved with the company as a special adviser to the GSTP board.
Marziniak joins GSTP from Deutsche Bank where he was managing director in charge of global securities services. Prior to this he served as CEO of international settlement agency Clearstream, where he was responsible for worldwide sales, product development, and strategic business planning. He will take up his new position on 1 January 2002.
His move coincides with the scheduled launch of GSTP live production. This follows completion of a structured pilot programme involving more than 30 investment managers, broker dealers, and global custodians. These firms have completed participant integration testing, and are in the process of scripted counter-party testing.