• Press Room
  • Press Releases
    • 2008
    • 2007
    • 2006
    • 2005
    • 2004
    • 2003
    • 2002
    • 2001
    • 2000
    • 1999
  • Media Contacts
• Newsletters

News Center

Press Room

DTCC Hires 20-year Banking and Hedge Fund Veteran to Promote Alternative Investment Processing Solution

New York, June 10, 2008 – Mark Lancaster, a 20-year veteran in financial services, has joined The Depository Trust & Clearing Corporation as a vice president, Product Management, with responsibility for a new global suite of services supporting Alternative Investment Products (AIP).

In this newly created position, Lancaster will be in charge of promoting AIP in the industry, building recognition and a strong client base. He will also be responsible for growing the business, expanding the user base and the service functionality.

AIP, which received regulatory approval from the U.S. Securities and Exchange Commission in early May, will link broker/dealers, fund managers, administrators and custodians, and provide settlement of subscriptions and redemptions for alternative investment vehicles and a seamless, automated exchange of standardized, trade-related account information.

“We are delighted that Mark has become a member of our team,” said Ann Bergin, managing director and general manager, Wealth Management Services. “He brings a wealth of experience that will help us drive the business and expand risk- and cost-control efficiencies to the growing number of firms in the alternative investment space.”

Lancaster was with Fortis Bank in New York since 2006 as a director of New Business Development, where he was responsible for marketing fund administration and banking services to hedge funds and funds of hedge funds within the Fortis Prime Fund Solutions division.

Prior to that, he worked in London for both The Bank of New York (BNY) and UBS. At BNY from 1998 to 2005, he was client executive in charge of the Hedge Fund and Broker/Dealer teams. At UBS for four years, he was executive director from 1997-1998, heading a London-based team focused on delivering credit and service products to broker/dealers and other financial institutions, and as a director with the New York branch from 1994-1997. Earlier in his career, from 1988-1994, Lancaster also worked at BNY’s New York headquarters in various management, sales and commercial banking roles.

He holds a BA in Economics from DePauw University and an MBA in Finance from Indiana University.

About DTCC

The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with financial firms and third parties who market these products. DTCC’s depository provides custody and asset servicing for 3.5 million securities issues from the United States and 110 other countries and territories, valued at $39 trillion. Last year, DTCC settled more than $1.8 quadrillion in securities transactions. DTCC has operating facilities in multiple locations in the United States and overseas. For more information on DTCC, visit www.dtcc.com.

About Wealth Management Services

Wealth Management Services is a business unit of The Depository Trust & Clearing Corporation (DTCC) that provides transactional and information services to the mutual fund and managed accounts industries, through solutions like Fund/SERV®; it is also developing new processing solutions for alternative investment products. Wealth Management Services automates, standardizes and streamlines the processing of transactions and data exchange between asset managers and their network of distribution partners, lowering risk, operational costs and error rates.