OCC appoints Lester and Yates as board members
06 March 2016 Chicago
Image: Shutterstock
The Options Clearing Corporation (OCC) has appointed Susan Lester and William Yates to its board of directors.
Lester joins as a public director, replacing Matthew Gelber of Bitterroot Asset Management. Yates joins as a member director, replacing Judith Kula of Wolverine Execution Services.
They were elected for three-year terms.
Lester currently advises Pac West Bancorp and Arctic Cat as a member of their respective boards of directors and chair of their audit committees.
Previously, she served as executive vice president and CFO for Homeside Lending, a $35 billion production mortgage banking operation and subsidiary of National Australia Bank, from 2001 to 2002.
Yates is currently managing director of finance for TD Ameritrade, where he is responsible for providing regulatory financial support for the firm’s back-office securities clearance and settlement functions.
He also offers broker-dealer balance sheet management and oversight, including operational liquidity considerations.
“The addition of Susan Lester and Bill Yates to the OCC board of directors further strengthens our ability to ensure confidence in the financial markets and the broader economy as a systemically important financial market utility,” said Craig Donohue, executive chairman of OCC.
Raymond Di Sanza of Charles Schwab and Co and Jonathan Werts of Bank of America Merrill Lynch were re-elected as member directors. Werts will continue to serve as member vice chair.
Robert Litterman of Kepos Capital was re-elected as a public director.
“Their insights, along with those of Ray Di Sanza, Jon Werts, Bob Litterman and our other board members, support OCC’s mission to provide exceptional risk management and innovative solutions to reduce systemic risk while operating as a low-cost utility,” Donohue added.
“I also want to thank Judith Kula and Matt Gelber for their invaluable contributions and thought leadership that they provided to OCC as board members. They have helped OCC enhance its resilience and foster growth and innovation. On behalf of our fellow board members, I thank them for their commitment and service to OCC.”
Lester joins as a public director, replacing Matthew Gelber of Bitterroot Asset Management. Yates joins as a member director, replacing Judith Kula of Wolverine Execution Services.
They were elected for three-year terms.
Lester currently advises Pac West Bancorp and Arctic Cat as a member of their respective boards of directors and chair of their audit committees.
Previously, she served as executive vice president and CFO for Homeside Lending, a $35 billion production mortgage banking operation and subsidiary of National Australia Bank, from 2001 to 2002.
Yates is currently managing director of finance for TD Ameritrade, where he is responsible for providing regulatory financial support for the firm’s back-office securities clearance and settlement functions.
He also offers broker-dealer balance sheet management and oversight, including operational liquidity considerations.
“The addition of Susan Lester and Bill Yates to the OCC board of directors further strengthens our ability to ensure confidence in the financial markets and the broader economy as a systemically important financial market utility,” said Craig Donohue, executive chairman of OCC.
Raymond Di Sanza of Charles Schwab and Co and Jonathan Werts of Bank of America Merrill Lynch were re-elected as member directors. Werts will continue to serve as member vice chair.
Robert Litterman of Kepos Capital was re-elected as a public director.
“Their insights, along with those of Ray Di Sanza, Jon Werts, Bob Litterman and our other board members, support OCC’s mission to provide exceptional risk management and innovative solutions to reduce systemic risk while operating as a low-cost utility,” Donohue added.
“I also want to thank Judith Kula and Matt Gelber for their invaluable contributions and thought leadership that they provided to OCC as board members. They have helped OCC enhance its resilience and foster growth and innovation. On behalf of our fellow board members, I thank them for their commitment and service to OCC.”
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