Dr Stephan Schuster, deputy chairman of the advisory board of Deutsche Börse, has joined CrestCo, the operator of the Crest settlement system in the UK, as one of two new non-executive directors.

Schuster and David Watson, finance director of M&G, the European asset management business of the Prudential Group, join the CrestCo board in London at a crucial time in European clearing history. CrestCo will be keen to keep its links as close as possible with operators of the German market, as Deutsche Börse prepares to merge with London Stock Exchange to form iX-international exchange.