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DTCC Commemorates Five Years in Tampa
Global financial services company reaffirms commitment to Florida and Tampa Bay
Tampa, FL May 26, 2010 - The Depository Trust & Clearing Corporation (DTCC) announced today the five-year anniversary of its Southern Business Center (SBC) opening in Tampa at an event attended by several elected officials, Tampa business leaders and more than 500 employees.
At today's ceremonies, speakers from the public included: Florida State Senator Victor Crist; Commissioner Ken Hagan, chairman, Hillsborough County Board of County Commissioners; Reverend Dr. Thomas Scott, chairman, Tampa City Council; and Dr. Beny Peretz, principal, Paul Mort Elementary School, a school that SBC has partnered with since moving to Tampa.
Other dignitaries attending the event included:
- Commissioner Rose Ferlita, Hillsborough County Board of County Commissioners
- Councilman Joseph Caetano, Tampa City Council
- Field Representative Clint Shouppe, representing U.S. Congressman Gus Bilirakis
- Bea Bare, Tampa-Hillsborough Economic Development Corporation
- Bruce Register, Tampa-Hillsborough Economic Development Corporation
- Jennifer Taylor, Tampa Bay Partnership
- Christine Burdick, Tampa Downtown Partnership
During the ceremony, DTCC singled out and thanked the state of Florida, the Hillsborough County Board of County Commissioners, the Tampa City Council and the Greater Tampa Chamber of Commerce's Committee of 100 for the role they played in its decision to choose Tampa for its SBC location. Before opening its Tampa facility in 2005, DTCC spent several years looking at almost two dozen cities nationwide. Tampa was chosen in May 2004.
"We are very pleased to be here in Tampa and we look forward to maintaining our presence and strengthening our commitment to this community," said Donald F. Donahue, DTCC Chairman and CEO, who attended the event. "The warm welcome we received at the state and local level five years ago continues today and it's a testament to Florida's sincerity in attracting companies like DTCC to the state."
Donahue stressed how pleased DTCC has been with selecting Tampa, "We needed a place that would not only appeal to our employees moving from New York, but would also allow us to recruit a knowledgeable workforce with expertise in technology, finance, accounting, operations, and communications. We needed a place with strong educational resources, a good housing stock, diversity and respected medical facilities. We found all those critical attributes here in Tampa. And we found something else as well. We found a community that welcomed and embraced us. We found a neighborhood where we've been able to put down roots. We found a place we can call home."
DTCC's SBC is a key component of a larger business continuity strategy the company put in place after September 11, 2001 to decentralize the processing functions and operations support that DTCC provides the global financial services industry. DTCC's Tampa facility is part of the company's critical network of operating centers in the United States and overseas. For security purposes, DTCC's multiple operating centers are located separate from its backup data centers, which are located a thousand miles apart. This gives the company technological flexibility to ensure resiliency and operational risk control to protect the U.S. capital markets.
In the five years DTCC has been in Tampa, the company has grown from 300 employees in 2005 to more than 530 today. In keeping with DTCC's strong commitment to diversity in its workforce, 66 percent of the SBC employees represent minority groups and nearly 40 percent are women. Positions at SBC cover all main DTCC functions such as Clearance, Settlement, Asset Servicing, Operations and Technology. Represented staff functions include Finance, Legal, Human Resources, Audit, and Corporate Communications and Public Affairs, among others.
Speaking to the members of the community, SBC General Manager and Head of Operations Eric Miller said, "Let me emphasize that we take our civic and humanitarian responsibilities as seriously as we do our business responsibilities. I have called Tampa my home for 18 years. It is where my daughter was born and where my wife and I are raising our two children. We look forward to strengthening our partnerships with each of you for years to come."
DTCC is owned by its member firms and operates on an at-cost basis; therefore, its philanthropy takes the form of tangible community support and employee contributions to non-profit organizations.
"When it comes to our commitment to community, we have been active participants and contributors. We have been good citizens who are actively engaged in our schools and neighborhoods, building foundations, making connections and making a difference for our community's future," said Miller.
During 2009, some 240 SBC employees volunteered across ten different community events. That same year, DTCC's Tampa-based employees donated more than $100,000 to the United Way of Tampa Bay, making it one of the top 10 financial companies contributing to the region and the recipient of United Way's "Spirit of Tampa Bay Award".
"In this year's campaign, our employees have been even more generous," said Donahue. "They have topped last year's $100,000 mark, donating more than $116,000.
"This is what people do when they live in a community that has been so hospitable and welcoming. We help each other out, especially when the economy is down and times are hard."
About DTCC
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 their distribution networks. DTCC's depository provides custody and asset servicing for more than 3.6 million securities issues from the United States and 121 other countries and territories, valued at US$33.9 trillion. In 2009, DTCC settled nearly US$1.48 quadrillion in securities transactions. DTCC has operating facilities and data centers in multiple locations in the United States and overseas.