DTCC Connection

May 13, 2013 • DTCC Connection

Susan Cosgrove Talks About Joining the Omgeo Board

@DTCC recently sat down with DTCC’s Susan Cosgrove, Managing Director and General Manager of Settlement and Asset Services at DTCC, to talk about her recent appointment to Omgeo’s Board of Managers.

Omgeo, the global standard for post-trade efficiency, is a joint venture between DTCC and Thomson Reuters.

The Omgeo Board of Managers plays a vital part in the ongoing governance and industry oversight of the organization. How does your experience help bring insight to your new role as a member of Omgeo’s Board of Managers?  

I have been with DTCC for 14 years, and prior to that I spent 15 years in the financial services industry. During my career at DTCC I’ve had the opportunity to manage several of our core business lines, first with FICC [DTCC’s Fixed Income Clearing Corporation], then Equity Clearing and now Settlement and Asset Services, which serves the end of the post-trade processing chain. The interesting thing for me is that most of my experience, both prior to and during my career at DTCC, has been with sell-side processing. Omgeo’s community includes broker/dealers, investment managers and banks. So this is an exciting opportunity to bring some of my experience and insight from the sell-side processing world. It’s timely because the industry is focused on mitigating risk and lowering costs for institutional trades, and looking at sell-side processes to see what works, what doesn’t and what can be enhanced to achieve these goals. As a 50% owner of Omgeo, DTCC understands the issues Omgeo faces as the industry and regulatory landscapes evolve. As leaders in our respective spaces, Omgeo and DTCC together can promote best practices that will ultimately reduce both cost and risk for the industry.

 

Image - Susan Cosgrove

Susan Cosgrove, DTCC Managing Director and General Manager, Settlement and Asset Services

What has prepared you to help navigate the ever-changing market Omgeo serves?

My 25-plus years in the industry, dealing with all different types of clients and having great familiarity with the clearance and settlement process, give me a unique vantage point. I have a good understanding of the pain points and strategic opportunities from both an Omgeo perspective and from a DTCC perspective [as a parent company to Omgeo], but most importantly from a client perspective.

Do you have specific objectives that you would like to meet as a Board member?

As a member of the DTCC management team, I’ve experienced firsthand the value of objective, informed guidance from the DTCC Board of Directors. I hope to bring similar insight and governance to the Omgeo management team.

As a woman leader on Wall Street, what is your secret to success?

I think a key ingredient for success in any facet of a person’s life is to love what you do. I enjoy my work. That, coupled with my high energy levels, helps me sleep well at night. I go from zero to sixty the second I wake up. I fall asleep at 9 p.m. and sleep soundly through the night, just to start again the next morning. Coffee helps too!

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