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Monday, February 06, 2023
Saltedge Report

EDB Strengthens Executive Management Board With New Appointments

European Depositary Bank (“EDB”), the Luxembourg-based provider of banking, depositary and custody solutions, today announces the appointments of Jean-François Thils, Managing Director and Robert Steele, Managing Director as Members of the Executive Management Board.

As part of global financial services provider Apex Group, EDB is one of the largest providers of depositary services in Europe for regulated UCITS and alternative funds, with over $160bn of Assets under Depositary (as of September 30, 2022). Mr. Thils and Mr. Steele join David Claus, CEO of EDB and Holger Barth, Managing Director as Members of the Executive Management Board.

Mr. Thils brings over 30 years of experience in the finance industry, having spent the last two decades working in the funds sector. He joins EDB from BNY Mellon, where he has worked for the last 23 years in Luxembourg, most recently as Head of EMEA Transfer Agency Technology. Prior to this, he was Head of Technology for the European Bank of BNY Mellon, having been Country Head of Technology for BNY Mellon in Luxembourg since 2001. Mr. Thils is an active participant in industry developments and debates, including chairing the ABBL working group on Big Data and Data Analytics focusing on the impact of the General Data Protection Regulation.

Mr. Steele joined EDB as Head of Implementation in early 2022 with nearly three decades of financial services experience. He previously spent over 16 years at JP Morgan Chase & Co. in Luxembourg, holding various senior roles, most recently as Luxembourg Head of Depositary Services Oversight. Mr. Steele has a wealth of experience in the UCITs and Alternative Fund space, including positions at BNP Paribas Securities Services, Deutsch Bank, Baillie Gifford and Franklin Templeton Investments.

David Rhydderch, previously a Member Executive Management Board steps down from the Board, becoming a Member of the Board of Directors, EDB and Global Head of Financial Products and Managing Director, EMEA for the wider Apex Group.

This latest news follows the acquisition of Netherlands-based provider of depositary services Darwin Depositary Services, the appointment of David Claus as CEO of EDB, and the roll out of Digital Banking services for institutional clients.

David Claus, CEO of EDB comments: “We are pleased to welcome Jean-François and Robert to the Executive Management Board of EDB and look forward to the valuable strategic guidance they will offer as we seek to build a market leading depositary offering for clients. EDB’s banking and digital capabilities are a powerful differentiator for Apex Group, offering clients all the services they need, delivered locally but available globally and underpinned by best-in-class, scalable technology platforms. The additions of Jean-François and Robert will help us to strengthen our governance structures and constantly improve client service and experience, including the technology platforms we use to deliver agile solutions to meet client needs.”

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