Deutsche Börse Group Managing Director To Leave

Volker Potthoff, managing director for Deutsche Börse Group's banking and custody service division, will depart the group, which operates the Frankfurt Stock Exchange, the company announced Monday. Potthoff, 51, will stay on as a consultant through June.

Potthoff joined the Deutsche Börse as general counsel in 1994. He is also a member of the Group's executive management at Clearstream International, as well as a member Clearstream Banking Luxembourg and Clearstream Banking Frankfurt subsidiaries.

Potthoff's departure was amicable, according to the exchange operator. A spokesman for the Deutsche Börse declined to comment further, saying only that Potthoff's contribution to the exchange as general counsel during a "time of growth," as leader of the cash market division and in particular through his client management with Clearstream, was noted.

The French newspaper, Le Figaro, reported Saturday that a proposed merger between Euronext and the Deutsche Börse fell through because of "too numerous areas of disagreement," cited Euronext board members.