EDB announces new leader
European Depositary Bank (“EDB”), the Luxembourg-based provider of banking, depositary and custody solutions, today announces the appointment of David Claus as CEO and Member of the Board of Directors.
As part of Apex, 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 May 31, 2022).
David brings close to three decades of asset servicing and asset management experience from a career spent working in Luxembourg, London and Brussels. He joined EDB in April 2022, before being nominated to the Board of Directors and subsequently taking on the CEO role, effective June 16, 2022.
David was most recently Luxembourg Country Head for BNY Mellon, serving as Manager of the Luxembourg branch of the Bank of New York Mellon SA/NV and chair of its Management Committee. Previously he held senior management roles in BNY Mellon’s Asset Servicing business and was and member of the Management Committee of the Bank of New York Mellon Brussels Branch. He joined BNY Mellon in London in 2000 and held various management positions in asset servicing and client management.
Prior to joining BNY Mellon, David ran third party distribution as well as operations for the Luxembourg management company of a Continental European fund manager. He started his career in 1994 as a fund accountant in Luxembourg.
David Claus, CEO of EDB comments: “I am excited to be joining EDB, a bank with a rich history of enabling institutional investors to directly access the Luxembourg financial market. As an independent provider, EDB has an important role to play in offering our clients an agile and responsive cross-jurisdictional service in an ever-changing regulatory environment.”
David Rhydderch, Global Head of Financial Solutions at Apex Group adds: “We are pleased to welcome someone of David’s experience to lead and grow our EDB business. EDB’s digital banking, depositary and custody services differentiate our single source offering as a leading global financial services provider.”
About European Depositary Bank
European Depositary Bank (“EDB”) was founded in 1973 in Luxembourg. It was originally established as a subsidiary of Hamburg based private bank M.M.Warburg & CO (AG & CO) KGaA and was acquired by Apex Group Ltd (“Apex”) in 2019. EDB is supported by Apex’s strong global network of over 50 offices worldwide in addition to its extensive European presence with circa 2,000 employees across the region and is one of the largest providers of depositary services in Europe for regulated UCITS and alternative funds with over $160.6bn Assets under Depositary (as of May 31, 2022).
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About Apex Group Ltd.
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With 85 offices in 42 countries worldwide and 10,000 employees upon the close of announced acquisitions, Apex delivers an extensive range of services to asset managers, capital markets, private clients and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in the industry; including fund services, digital onboarding and bank accounts, depositary, custody and super ManCo services, business services including HR and Payroll and a pioneering ESG Ratings and Advisory service for private companies.