FRANKFURT, June 30 (Reuters) - Deutsche Boerse is set to launch a management revamp on Wednesday aimed at making better use of middle managers’ knowledge, as its new chief executive seeks to spur growth at the German exchange operator, including through acquisitions.
Carsten Kengeter, who took over as CEO at the start of the month, is creating a Group Management Committee (GMC) tasked with improving information flows, reviewing investment proposals and taking leadership of special projects, an internal letter from Kengeter to senior managers seen by Reuters showed.
The GMC is similar to the Group Executive Committee structure used by the country’s biggest lender, Deutsche Bank , and is designed to boost management efficiency.
The revamp is the first big organisational move by Kengeter, who has also said he would not rule out large acquisitions to spur growth.
Deutsche Boerse on Monday said it was in talks with Swiss Six Group to buy the remaining stakes in their equity index joint ventures Stoxx and Indexium for 650 million Swiss francs ($692 million).
The GMC, to be chaired by Kengeter, will include Deutsche Boerse’s current executive board, plus management members drawn from various business areas, named in the letter as Thomas Book, Philip Brown, Alexandra Hachmeister, Gary Katz, Eric Tim Mueller, Roger Mueller and Holger Wohlenberg.
“We seek to significantly improve the processes in place in a number of areas of our company using state-of-the-art technology and management methods,” the letter said.
The GMC takes up its duties from July 1.
Further management changes will see executive board member Jeffrey Tessler step back from day-to-day management as CEO of the Clearstream unit and turn over his responsibilities to Marc Robert-Nicoud, Philip Brown and Philippe Seyll.
Tessler will continue to hold sole responsibility for the Clearstream business within Deutsche Boerse’s executive board, and will become chairman of Clearstream operations.
Deutsche Boerse declined to comment. (Reporting by Andreas Kroener, writing by Jonathan Gould, editing by David Evans)