Clearstream CEO Phil Brown Named Global Custodian Industry Person

Phil Brown, chief executive officer of Clearstream, won Global Custodian’s 10th Industry Person of the Year award at the Leaders in Custody event after a live vote by 300 attendees. The award was presented onstage; Brown received a standing ovation and thanked colleagues and peers while noting his fellow nominees.

Brown was one of four shortlisted executives, alongside Fiona McNally of BNY, Isabelle Delorme of Euroclear and Mark Austin of Northern Trust. The award recognises contributions to the securities services industry over the past year and was decided by attendees at the Leaders in Custody gathering.

During the past year Clearstream launched its D7 platform, pursued efforts to digitize the Eurobond market and invested in technology intended to improve post-trade efficiency across European markets. The firm described the initiatives as part of its product and technology agenda.

On a broader geographic scale, Clearstream completed projects enabling the first use of offshore Chinese government bonds for initial margin segregation and executed its first tri-party repo transaction in Taiwan. The company migrated the first global broker-dealer and one of Europe’s largest neo-broker clients onto its European central securities depository platform over the past 12 months.

Brown took part in industry discussions on settlement reform, including Europe’s shift to a T+1 settlement cycle and the operational challenges posed by the continent’s multi-jurisdictional market structure. He appeared at several global conferences and industry associations during the year to present Clearstream’s work and to discuss market developments.

Brown previously received Global Custodian’s GC Legend award in 2018. This year’s Industry Person of the Year title reflects the vote of the event’s 300 attendees and highlights his profile within European and international securities markets.