The Depository Trust and Clearing Corporation (DTCC) has named Brian Steele as managing director and president of the firm’s clearing and securities services, effective 2 October 2023.
Steele will join the DTCC management committee, management risk committee and the investment management committee. Steele will also become chair of the DTCC’s Institutional Trade Processing (ITP) board of managers.
On his appointment, Steele said: “I’m excited to join DTCC to build upon its leadership role in the industry. It’s a great opportunity to use my experience to advance initiatives that will strengthen market structure, develop new products and capabilities that address industry pain points and protect the stability of the global financial system, and support clients as they navigate a challenging and fast-moving environment.
“I know first-hand that DTCC is trusted and respected by the industry, has outstanding talent and expertise and is committed to leading positive change in partnership with our industry colleagues and stakeholders.”
Steele has nearly 20 years of experience across a range of senior-level roles at Goldman Sachs, including most recently as managing director – Americas client coverage group and global head of client and market solutions. Prior to that, he served as a senior leader in a number of operations-related roles, including global head of market structure solutions; global head of equities execution services and settlements; global Head of digital transformation for the operations division; and global head of market solutions for the operations division.
As president of clearing and securities services, Steele will lead the equity clearing and settlement, fixed income clearing, wealth management services, asset services and ITP businesses. He will report to Francis La Salla, DTCC president, CEO and director.
La Salla said: “We’re pleased to have a seasoned executive like Brian bring his expertise in clearance, settlement, middle office operations, digital transformation and client engagement to DTCC to lead these critically important businesses.
“Brian’s deep understanding of client needs and his focus on client experience, combined with his strategic approach, strong industry relationships and appreciation for DTCC’s role in the industry, will enable him to lead key initiatives while driving innovation in the development and delivery of new solutions.”
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