- Frank Klaas has overseen political communications since 2013
- Exchange must persuade regulators to approve its deal
Deutsche Boerse AG’s chief lobbyist, Frank Klaas, will leave at the end of this month, potentially weakening the exchange operator’s lobbying muscle in Brussels at a time when the company is attempting to buy London Stock Exchange Group Plc.
As head of political communications, Klaas has overseen Frankfurt-based Deutsche Boerse’s lobbying efforts in Brussels -- the seat of the European Commission -- and Berlin since the start of 2013. He will leave on his own initiative, the firm said in a statement on Thursday.
Deutsche Boerse’s expansion efforts have run afoul of European regulators in the past after the Commission blocked a plan to buy NYSE Euronext in 2012, arguing that it would reduce competition. The German company’s agreement to buy LSE still needs approval from the Commission and authorities in the U.S., Germany, the U.K., France, Italy and Luxembourg.
The owner of the Eurex futures market and the Frankfurt Stock Exchange appointed Matthias Fritton as its senior general manager with responsibility for lobbying at the start of this month. Fritton had worked with former German Chancellor Helmut Kohl and at the German Federal Ministry of Transport.
“I would like to thank Frank Klaas for his help in positioning Deutsche Boerse considerably in the political environment, especially at a time of major regulatory changes,” said Deutsche Boerse Chief Executive Officer Carsten Kengeter.