Pershing LLC, a BNY Mellon company, today announced that Frank J. LaSalla, managing director at Pershing LLC, chairman and chief executive officer of Pershing LTD and a member of BNY Mellon's operating committee, has been named to the board of directors of both Euroclear plc and Euroclear SA/NV. Headquartered in Brussels, Euroclear is the world's largest provider of domestic and cross-border settlement and related services for bond, equity, derivatives and fund transactions. The board is responsible for the overall development of Euroclear's strategy, as well as the monitoring of its implementation.
"This is a critical time for the European financial services industry, and I'm enthusiastic about the prospects of contributing to the smooth operation of the financial system through the work of Euroclear," said Frank LaSalla.
Mr. LaSalla oversees all of the business activities outside the U.S. for Pershing's Global Customers group and leads Pershing's global growth strategy in an effort to expand Pershing's global business in selected countries. Mr. LaSalla is responsible for Pershing's businesses in the UK, Ireland, Singapore, Canada, Australia and all the international broker-dealer and financial institutions conducting business on the Pershing LLC platform. He is also responsible for Pershing's global corporate development.
Mr. LaSalla succeeds Timothy F. Keaney, vice chairman of BNY Mellon and chief executive officer of BNY Mellon Asset Servicing. In the Euroclear board roles, Mr. LaSalla will be working in conjunction with some of the most notable names within the securities and banking industries. Mr. LaSalla has also been appointed to the Euroclear Board's Remuneration Committee.
"Euroclear plays an important role in facilitating financial transactions for our customers, and I know Frank will continue in our mission to make the process efficient and accurate for the industry," said Tim Kearney.