May 13, 2013
• DTCC Connection
DTCC Deriv/Serv Hires New Regional Head of Asia
In the continuing effort to bolster DTCC’s presence in the Asian marketplace, the company has hired Peter Tierney as Regional Head of Asia, DTCC Deriv/SERV LLC. Tierney will be based in Singapore and report to Stewart Macbeth, CEO of DTCC Deriv/SERV LLC.
Peter Tierney, Regional Head of Asia, DTCC Deriv/SERV LLC.
“Peter brings extensive experience in the Asian markets to this challenging role. He is a valuable addition to the company as we continue to grow our business and serve our clients,” said Macbeth. “A hiring of this caliber is another example of our commitment to the region and our recognition of this marketplace as a critical component of the global capital markets.”
“I’m very excited about this opportunity and look forward to promoting the DTCC vision of transparency and risk mitigation in the over-the-counter [OTC] markets in this region,” said Tierney. “It is gearing up to be a busy year as regional regulators look to implement key G20 OTC reforms. The timing is great and I am looking forward to expanding DTCC relationships with financial firms and regulators across the region.”
Tierney draws on over 20 years of deep subject matter expertise in pre- and post-trade processing, telecommunications, trading architecture and data management. He has held senior executive roles with NYSE Euronext and BT Radianz, and was a founding executive of Omgeo, DTCC’s joint venture with Thomson Reuters. Tierney has specialized in developing services that bring together communities within the financial space, a close strategic fit with DTCC’s global mission. Tierney has worked extensively in the U.K. and U.S. but has spent the majority of his career in Asia.
In addition to establishing the Asia-Pacific global data center, DTCC set up operations and client support in Singapore and Japan. Under Tierney’s leadership, this team will play a key role in helping the region’s market participants comply with current and future regulatory requirements for OTC derivatives trade reporting. The team will also provide client support and operational processing in the region.