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MUCH IS EXPECTED of Michael Bodson. His appointment, according to Robert Druskin, DTCC’s executive chair, is part of the DTCC’s long term leadership succession strategy; and on the surface is a natural progression on from outgoing chief executive Don Donahue. “His decade-plus of experience with the DTCC, both as an industry board member and more recently, as a senior DTCC executive for the past five years, [gives] him a strong understanding of DTCC’s operations, systems and risk management strengths and the critical roles they play in the financial markets ... The board has great confidence in his ability to lead DTCC.”

Bodson joined DTCC in 2007 as executive managing director for business management and strategy, following a 20-year career with Morgan Stanley, having managed its retail and asset management operations. By 2010 he had become chief operating officer of the DTCC and three of its subsidiaries (the DTC, NSCC and FICC), with enterprisewide responsibility for IT and operations. He has overseen the firm’s Trade Information Warehouse for over the counter (OTC) derivatives and EuroCCP, DTCC’s European clearing and settlement organisation and been a board member of New York Portfolio Clearing (NYPC), a joint venture with NYSE Euronext for clearing futures.

Download the Congressional Testimony: DTCC Looks Out on a New, Global Future