The Depository Trust & Clearing Corporation (DTCC) is making several executive management appointments, effective 1 September, designed to strengthen the company’s leadership team.
“DTCC’s clients and key stakeholders are increasingly looking to us to develop and provide solutions that will help them effectively navigate the current economic and regulatory environment,” says Michael Bodson (pictured), president and chief executive officer, DTCC. “Through the guidance, dedication and solid expertise of the highly-talented individuals that make up our leadership team, DTCC is committed to meeting the needs of our clients in a rapidly evolving and dynamic market place.”
Ellen Fine Levine has been appointed executive client officer, a new position for the company. Levine’s primary responsibility will be to enhance DTCC’s client coverage strategy for the company’s top and middle market clients globally. Levine is currently DTCC’s chief financial officer.
Susan Tysk-Cosgrove was named chief financial officer, succeeding Levine. Cosgrove will lead DTCC’s global finance and treasury team and will oversee the company’s efforts to further strengthen its financial processes and capital position. Cosgrove is currently general manager, settlement & asset services.
Daniel Thieke succeeds Cosgrove as general manager, settlement & asset services. In this role, Thieke is responsible for overseeing the day-to-day operation of DTCC’s services in these areas globally and driving the strategic development of key company initiatives such as its corporate actions reengineering effort, dematerialisation of physical securities and leading continued structural changes to US settlement processes. Thieke is currently managing director, asset services.
Alexander (Sandy) Broderick will join the company as chief executive officer, DTCC Deriv/SERV. Based in London, Broderick will oversee DTCC’s overall over-the-counter (OTC) derivatives global post-trade processing and trade reporting services as the company continues to lead industry efforts related to regulatory reporting across jurisdictions, mitigating risk, and increasing transparency and operational efficiency in this dynamic market. Broderick is currently chief executive officer of New York Portfolio Clearing (NYPC), and over the coming months will have dual responsibilities and continue to lead NYPC as he transitions to his new role.
Stewart Macbeth moves to the newly-created position of chief product development officer, focused on leading the company’s continued work to grow this business. Currently chief executive officer, DTCC Deriv/SERV, Macbeth expands his current efforts on transforming ongoing regulatory and industry requirements into new products and services that effectively meet the needs of DTCC’s OTC derivatives clients around the world.
Other leadership appointments within DTCC Deriv/SERV include Chris Childs, Deriv/SERV’s global chief operating officer (COO), who expands his responsibilities to include all derivatives business and product management, and Marisol Collazo who assumes the position of US chief executive officer for the DTCC Data Repository (DDR), interfacing with key regulatory bodies to ensure the company is fully meeting all requirements and building capabilities that best meet its clients’ evolving needs. Peter Tierney continues as the head of OTC derivatives, Asia.
Lynn Bishop has been named chief technology officer, charged with managing the company’s infrastructure and information technology capabilities that support DTCC’s key business priorities. A core member of DTCC’s IT senior leadership team, Bishop is currently managing director, clearing services applications development and maintenance (ADM) team, where she has been instrumental in leading all applications development supporting DTCC’s equities, fixed income, wealth management services and insurance businesses.
“Throughout our history, a strong leadership team has been one of the hallmarks of DTCC’s consistent ability to help preserve the security and sound operation of the financial system and to develop forward-looking services for our clients and the industry at large,” adds Bodson. “These appointments not only reflect our robust leadership succession strategy, but also position us well to compete effectively in an increasingly more complex and interconnected global marketplace.”