Clearstream appoints new head of HR following suspensions

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The new head of HR is Doug Reeve, who will also retain his existing job as chief of staff at the Luxembourg-based company.

The last HR head, Robert Massol, was suspended by the company last month, together with Clearstream's president, Andre Lussi, and Carlos Salvatori, a senior director of the firm. It also emerged that Lussi's step-daughter, Caroline Wiget, was working in the firm's HR department.

A company spokesman said that Massol remained suspended and that while investigations into the money-laundering allegations continued, &quotin the intervening period, it makes sense to make the appointment&quot of Reeve.

The investigations, by the Luxembourg authorities, were prompted by the publication of the book Revelation$ written by Ernest Backes, a French journalist and a former Clearstream insider.