by Steve Letzler
DTCC’s Board of Directors has elected Michael Bodson to the post of COO, effective immediately. Bodson will also become president and COO of DTCC’s U.S.-regulated subsidiaries, The Depository Trust Company, National Securities Clearing Corporation and Fixed Income Clearing Corporation.
Michael Bodson, DTCC COO
Bodson reports to Donald F. Donahue, DTCC’s chairman and CEO, and became a member of DTCC’s Board of Directors at its October meeting. Bodson is taking on the COO title from William Aimetti, who will be retiring in 2011. Aimetti will retain his current title as president of DTCC and will continue to serve on DTCC’s Board until his retirement.
As COO, Bodson will have enterprisewide responsibility for all Information Technology and Operations at DTCC. In addition, he oversees two major businesses: DTCC’s Trade Information Warehouse for over-the-counter (OTC) derivatives and EuroCCP, DTCC’s European clearing and settlement organization. Bodson will continue serving as chairman of both EuroCCP and MarkitSERV, a global joint venture for OTC derivatives that DTCC is involved with in partnership with Markit.
Broad leadership experience
“Since joining DTCC, Mike has been heavily involved in helping to transform DTCC into a global organization with extensive new global capabilities and services,” said Donahue. “He has broad and diverse leadership experience in financial services over a 25+ year career, including initiating and growing business in overseas markets. This experience, coupled with his strategic understanding of the issues facing our industry, make him exceptionally qualified to help lead DTCC as we take on the many post-crisis risk management challenges in the future.”
More on Bodson
Bodson joined DTCC in 2007 as executive managing director for Business Management and Strategy, responsible for consolidating the product management of all DTCC business lines, strategic planning, relationship management and marketing under one umbrella.
Prior to joining DTCC, he held a number of senior management positions with Morgan Stanley over a 20-year period. In his last position at Morgan Stanley, he was global head of the Institutional, Retail and Asset Management Operations Department. He also had responsibility for operational risk, business continuity planning and information security.
Before that, he served as divisional operations officer for the Institutional Securities Group and was head of the Enterprise Information Group. In the mid-1990s, he served as head of Finance, Administration and Operations for Morgan Stanley Japan in Tokyo; prior to that, he held similar responsibilities for Morgan Stanley Asia in Hong Kong.
Before joining Morgan Stanley in 1986, Bodson worked at Bear Stearns and Price Waterhouse. He has dual degrees from Boston College, graduating summa cum laude, with majors in accounting and English. He is also a certified public accountant.@