DTCC appoints three new board members
14 April 2016 New York
Image: Shutterstock
The Depository Trust & Clearing Corporation (DTCC) has elected three new members to its board of directors.
Lester Owens, managing director and global head of wholesale banking operations at J.P.Morgan, Paul Simpson, managing director and global head of equity asset management services at Bank of America Merrill Lynch, and Joseph Weinhoffer, treasurer and chief investment officer of ED&F Man Capital Markets, will join DTCC’s 16 existing board members.
All three are senior executives of clearing agency participants and bring significant and diverse skills and experience to the board, according to DTCC.
Of the 19-person board, 12 are representatives of clearing agency participants, three are non-participant directors, and two are designated by DTCC's preferred shareholders.
The remaining two are DTCC’s board chairman, Robert Druskin, and its president and CEO, Michael Bodson.
“We are excited to have three accomplished industry leaders joining our board as we continue to expand our mission to help address new challenges facing financial firms,” said Druskin.
“They bring decades of experience across a wide range of areas in financial services to the Board, and their expertise and perspective will be invaluable as we seek new opportunities to deliver greater value to our clients globally.”
Lester Owens, managing director and global head of wholesale banking operations at J.P.Morgan, Paul Simpson, managing director and global head of equity asset management services at Bank of America Merrill Lynch, and Joseph Weinhoffer, treasurer and chief investment officer of ED&F Man Capital Markets, will join DTCC’s 16 existing board members.
All three are senior executives of clearing agency participants and bring significant and diverse skills and experience to the board, according to DTCC.
Of the 19-person board, 12 are representatives of clearing agency participants, three are non-participant directors, and two are designated by DTCC's preferred shareholders.
The remaining two are DTCC’s board chairman, Robert Druskin, and its president and CEO, Michael Bodson.
“We are excited to have three accomplished industry leaders joining our board as we continue to expand our mission to help address new challenges facing financial firms,” said Druskin.
“They bring decades of experience across a wide range of areas in financial services to the Board, and their expertise and perspective will be invaluable as we seek new opportunities to deliver greater value to our clients globally.”
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