Carsten Kengeter is an exchange executive who stepped down as the CEO of Deutsche Boerse AG at the end of 2017.  He started in that role in June 2015, succeeding Reto Francioni, who had served as CEO since November 2005. Kengeter also serves on the firm's executive board.
As a result of the allegations, German regulators conducted a assessment of the suitability management team of Deutsche Boerse  and in September of 2017 Deutsche Boerse agreed to pay a penalty totaling 10.5 million euros to settle the investigation into the charges against Kengeter. Kengeter has denied any wrongdoing.
On October 26, 2017 Deutsche Boerse announced that Kengeter had resigned amid the continuing allegations of insider trading. The company issued a profit warning several hours later.
Before joining Deutsche Boerse, Kengeter was an executive with UBS and served as its CEO from 2010 to 2013. After leaving UBS, he became a visiting professor of finance at the London School of Economics’ department of finance.
Kengeter arrival at Deutsche Boerse saw the exchange group aggressively pursue deals, with €1.4bn spent on deals with weeks in 2015. This was more than the company had spent in the last eight years and was before a proposed deal to merge with the London Stock Exchange Group. Deutsche Boerse spend €750,000 on the 360T forex trading platfom as part of the spending spree.
The Deutsche Boerse deal to merge with the London Stock Exchange ultimately was unraveled by anti-trust concerns, though it was wounded from the start having been agree upon before the Brexit vote.
Kengeter was co-head of Goldman Sachs Group's Asian securities business outside of Japan before he joined UBS in early 2009 as global co-head of fixed-income, currencies and commodities. He and Alexander Wilmot-Sitwell were named co-heads of UBS in April 2009, and in September 2010 Kengeter became the sole CEO when Wilmot-Sitwell moved to oversee business in Asia. In July 2012, UBS hired Andrea Orcel to co-head the unit with Kengeter, and Orcel took over as the sole head of the business later that year.
Kengeter spent three years as CEO of UBS before being reassigned to run the bank's non-core division. After leaving the company he continued to provide advice to UBS on winding down its non-core portfolio.
While Kengeter was slated to become the CEO of the proposed Deutsche Boerse/LSE deal, it emerged that the U.K.'s Serious Fraud office had investigated Kengeter "when it investigated Libor rigging." Kengeter was later dropped from the SFO list of suspects.
Handlesblatt reported in a story on Kengeter that he runs double marathons in the mountains and ultralange ski tours. He is also a fan of yoga and nei gong, an ancient martial art that promotes “internal strength,” according to the Financial Times.
Kengeter holds a bachelor of arts degree in business administration from Middlesex University, a graduate degree in Business Administration (Diplom-Betriebswirt (FH)) from the University of Reutlingen and a master of science in finance and accounting from the London School of Economics and Political Science.
JLN News Feed
Cboe Letter on Improving VIX Settlement Process; Matrix Executions’ High Touch Trading Desk for Options
CHALLENGES AROUND DERIVATIVES DATA CONSISTENCY, AGGREGATION AND ACCESS CONTINUE TO HINDER EFFECTIVE SYSTEMIC RISK MONITORING AND REDUCTION, ACCORDING TO NEW DTCC WHITE PAPER
We visit more than 100 websites daily for financial news (Would YOU do that?). Read the John Lothian Newsletter.