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Calastone announces new head of Luxembourg office
Posted: 8 March 2010
Calastone has announced the appointment of Sebastien Chaker as head of its Luxembourg office. Mr Chaker's responsibilities will include: working with the Luxembourg-based mutual fund industry, and to try and gain the benefits of mutual fund transaction automation and straight through processing.
Mr Chaker had been the Global Head of Fund Solutions Business Development at Brown Brothers Harriman since January 2007. Over the course of his fifteen-year career, he has also gained experience working for Euroclear SA in Brussels where he was a Director in the Investment Funds Product Management division. He also has experience in the investment fund market where he held sales and relationship management and marketing positions in Citibank's global consumer business in France.
"Luxembourg is an important area of focus in our efforts to help bring greater efficiencies for executing cross-border mutual fund transactions," said Kevin Lee, Co-founder and Managing Director of Calastone. "We have already signed up a number of important Luxembourg participants and quickly recognised the need to invest in a Luxembourg-based operation to better serve the local community. Sebastien brings a wealth of experience and excellent Luxembourg community relationships and we are excited to have him on board."
"I have been impressed with the pace at which Calastone has been connecting participants. I was particularly attracted by their vision to enable every firm, no matter their size, location, existing technology or messaging protocol to benefit from automation and STP," said Sebastien Chaker "Calastone's low cost approach to providing an international transaction network is clearly building traction and there is much more to follow which will benefit the global mutual fund industry. I am delighted to be involved in opening Calastone's first international operation and look forward to driving greater transaction flows both in and out of Luxembourg."