Steele Brings Nearly Two Decades of Experience in Clearance, Settlement, Middle Office Operations, Digital Transformation and Client Engagement to DTCC
New York/London/Hong Kong/Singapore/Sydney, September 27, 2023 ‒ DTCC, the premier post-trade market infrastructure for the global financial services industry, today announced the appointment of Brian Steele as Managing Director, President, Clearing & Securities Services, effective October 2, 2023. Steele will join the DTCC Management Committee, Management Risk Committee and the Investment Management Committee. Steele will also become Chair of the ITP Board of Managers.
As President of Clearing & Securities Services, Steele will be responsible for leading all DTCC Clearing and Securities Services businesses, including Equity Clearing and Settlement, Fixed Income Clearing, Wealth Management Services, Asset Services and Institutional Trade Processing (ITP). He will report to Francis (Frank) La Salla, DTCC’s President, Chief Executive Officer and Director.
Steele has nearly 20 years of experience in a diverse range of senior-level roles at Goldman Sachs, including most recently as Managing Director – Americas Client Coverage Group and Global Head of Client & Market Solutions. Prior to that, he served as a senior leader in a number of key 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.
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.”
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.”
About DTCC
With 50 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From 20 locations around the world, DTCC, through its subsidiaries, automates, centralizes, and standardizes the processing of financial transactions, mitigating risk, increasing transparency, enhancing performance and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm innovates purposefully, simplifying the complexities of clearing, settlement, asset servicing, transaction processing, trade reporting and data services across asset classes and bringing increased security, enhanced resilience and soundness to financial markets. In 2022, DTCC’s subsidiaries processed securities transactions valued at U.S. $2.5 quadrillion and its depository subsidiary provided custody and asset servicing for securities issues from over 150 countries and territories valued at U.S. $72 trillion. DTCC’s Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes more than 17.5 billion messages annually. To learn more, please visit us at www.dtcc.com or connect with us on LinkedIn, X, YouTube, Facebook, and Instagram.