On Tuesday, Clearstream, the clearing and custody subsidiary of Deutsche Börse, announced that Thomas Erdmann will join the board of Clearstream Fund Centre in Zurich as of September. He will take over the management of client business for Continental Europe and the APAC region. Erdmann will be responsible for asset management clients, including product lines related to fund distribution and fund data solutions (Kneip).

Erdmann succeeds Fabrice Vallat, who will focus on strategic business development at Clearstream Fund Centre. Erdmann comes from UBS and previously Credit Suisse (CS) in Zurich, where he held various positions in Investment Solutions & Products, most recently as Head of Wealth Solutions for CS Global Wealth Management.

Key Role in Fund Business Back Office

Erdmann will report to CEO Moritz Dechow, also a former CS executive, who took over leadership of Clearstream Fund Centre in Zurich earlier this year, as reported by finews.ch.

Clearstream Fund Services operates Vestima, the world's largest platform for cross-border fund processing and custody, with 4 billion euros in managed fund assets and 45 million transactions per year. The Clearstream Fund Centre platform for fund distribution connects around 600 asset managers with approximately 450 fund distribution partners under a single contract, covering over 500 billion euros and more than 80,000 funds.