Thompson Served as DTCC’s General Counsel Since 2005 and, Most Recently, As Vice Chairman
New York/London/Hong Kong/Singapore, 20 December, 2018 ‒ Larry Thompson, who served in a variety of senior-level roles at The Depository Trust & Clearing Corporation (DTCC), including General Counsel and, most recently, Vice Chairman of the firm, will retire at the end of this year after more than three decades at the company.
“Larry has been a trusted colleague, mentor and partner over the years, playing a significant role in many of our organization’s most important endeavors and helping to shape the company we are today,” said Michael Bodson, DTCC President and CEO. “Larry’s experience and wisdom have been invaluable to us as a management team, but just as important, the impact of his actions and words have touched virtually every part of the industry. We thank Larry for all his contributions to the industry and DTCC over these past 37 years and wish him and his family the very best of health, happiness and good fortune in the future.”
Thompson began at The Depository Trust Company (DTC) in 1981 as Associate General Counsel and was appointed senior vice president in the early 1990s. He was named General Counsel of DTC in 1999, and in 2005, Thompson was appointed General Counsel of DTCC, with responsibility for all legal and regulatory activities of the firm and our subsidiaries, including oversight of the Legal, Compliance, Government Relations and Regulatory Relations departments.
Thompson has played a key role during virtually every major crisis impacting the industry while at DTCC, including acting as chief liaison with the New York City Office of Emergency Management and state government officials following the terrorist attacks of 9/11, managing the fallout of the 2008 global financial crisis and responding to the devastating effects of Superstorm Sandy.
Following the financial crisis, Thompson initiated and led DTCC’s public policy outreach efforts. He has testified before the U.S. Congress on several occasions and has appeared before other legislative bodies globally.
Thompson plans to continue serving on the Board of Directors of the
Federal Home Loan Bank of NY, a position he has held for several years. He is currently Vice Chairman of the Board.
With 45 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From operating facilities, data centers and offices in 16 countries, DTCC, through its subsidiaries, automates, centralizes and standardizes the processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm simplifies the complexities of clearing, settlement, asset servicing, data management and information services across asset classes, bringing increased security and soundness to financial markets. In 2017, DTCC’s subsidiaries processed securities transactions valued at more than U.S. $1.61 quadrillion. Its depository provides custody and asset servicing for securities issues from 131 countries and territories valued at U.S. $57.4 trillion. DTCC’s Global Trade Repository service maintains approximately 40 million open OTC positions per week and processes over one billion messages per month through its group of licensed trade repositories.