The Depository Trust & Clearing Corporation (DTCC) has elected two new members to its Board of Directors – Claudine Gallagher, Americas Regional Head for the Securities Services business of BNP Paribas, and Joseph Molluso, Executive Vice President and Chief Financial Officer of Virtu Financial.
At BNP, Gallagher is responsible for the strategic development of the region, spearheading its client and product development. She serves on senior committees throughout the Bank, including the Executive Committees of the BNP Paribas Americas Territory and of BNP Paribas Securities Services.
Molluso helped lead the process that enabled Virtu to become a public company and executed a major acquisition in 2017 when Virtu acquired KCG Holdings. Molluso’s overall responsibilities include strategic planning, operational responsibilities and day-to-day management. Prior to joining Virtu, Molluso spent nearly twenty years in the financial services industry.
The DTCC Board of Directors currently comprises 20 Directors. Of these, 13 are participant Directors who represent clearing agency members, including international broker/dealers, custodian and clearing banks, and investment institutions; three are non-participant Directors; two Directors are designated by DTCC’s preferred shareholders, ICE and FINRA; and the remaining two Board members are DTCC’s Non-Executive Chairman and its President and Chief Executive Officer.
The Board plays an integral role in the oversight of the firm, ensuring DTCC services continue to meet the evolving needs of its participants while promoting safety and security across the global financial markets.
Robert Druskin (pictured), Non-Executive Chairman of DTCC’s Board, says: “We are pleased to welcome Claudine and Joseph to the DTCC Board of Directors. They bring decades of valuable experience and leadership to the Board as well as unique perspectives on the challenges facing the industry today and how DTCC can continue to broaden its capabilities to support our clients. We look forward to working with them in the coming years.”
