Euroclear Hires Michael Shipton as Managing Director and Head of Corporate Technology

Euroclear, the Brussels-based provider of domestic and cross-border settlement services for bond, equity and fund transactions, hired Michael Shipton as managing director and head of corporate technology. Shipton will oversee development of Euroclear's new technology platform, which will consolidate by 2010 all of the group's securities-settlement activities onto one processing system. "My main goal is to provide a stable and secure technology -- today and tomorrow -- for Euroclear's Single Platform initiative for the securities market," he says.

Shipton, who previously was with IT financial services firm Swisscom, adds that one of the main issues he will face will be dealing with the different regulations and requirements of domestic markets in a cost-effective manner. "I will also need to keep the correct business balance between the key trade-offs: reliability, cost of services and time to deliver," he says.