ECSDA, the European Central Securities Depositories Association, has appointed Soraya Belghazi as its first Secretary General. As of 1 September 2010, she will head the office of the Association, located right next to the European Commission at Schuman Square in Brussels.

Joël Mérère, ECSDA's Chairman, said:

"The appointment of Soraya Belghazi and the establishment of a permanent office marks a milestone in the history of ECSDA. Since its creation in 1997, ECSDA has operated as a close network of CSD professionals, with no central structure. Although we have achieved a lot as an association over the years, the rapidly changing business and regulatory environment in Europe means that the time has come to increase the level of professionalism in the work of ECSDA."
"I am confident that Soraya will help us achieve our goals more efficiently. Her experience with post-trade issues, acquired both at the European Central Bank and in the private sector, will be of great value to address the upcoming challenges for CSDs."

Soraya Belghazi said:

"I am delighted to have been chosen by ECSDA to set up its first permanent Secretariat in Brussels. CSDs constitute a key stabilising factor in the financial markets, as demonstrated by their resilience during the recent financial crisis. To ensure this continues in the future, the ECSDA Secretariat will, in particular, provide a platform for constructive dialogue between the CSD community and European public authorities, as well as other stakeholders looking to achieve an optimal regulatory framework for clearing and settlement."

---

---