Frank La Salla: Career Spotlight
Frank La Salla will assume the position of President and Chief Executive Officer (CEO) of DTCC effective August 12. At that time, he will also become President and CEO of DTCC’s principal operating subsidiaries, The Depository Trust Company (DTC), Fixed Income Clearing Corporation (FICC) and National Securities Clearing Corporation (NSCC), and a member of DTCC’s board of directors.
Related: DTCC Board of Directors Appoints Frank La Salla President & CEO
La Salla joins DTCC following a 28-year career at BNY Mellon, where he held several senior-level positions, including most recently as Chief Executive Officer of its Issuer Services business and a member of the BNY Mellon Executive Committee, the senior-most leadership committee at the firm. Prior to that, La Salla was CEO of Corporate Trust, which included responsibility for Depositary Receipts. He previously served as CEO of BNY Mellon’s Alternative Investment Services and Structured Products business, and before that he was a member of the Executive Committee of Pershing LLC, a BNY Mellon company, where he was co-head of Global Client Relationships and head of Trading Services. Earlier in his career, La Salla was president and chief operating officer of BNY Clearing Services LLC.
Prior to joining BNY Mellon, La Salla was CEO of BHF Securities Corporation, the U.S. broker-dealer subsidiary of Germany’s BHF Bank AG, and COO of Société Generale Securities, responsible for developing the French financial institution’s U.S. brokerage business.
La Salla holds numerous industry registrations and is an active member of the Financial Industry Regulatory Authority's Board of Arbitrators, also represents BNY Mellon on the boards of Euroclear plc., and Euroclear SA/NV. He earned a Bachelor of Science degree in Economics from The City University of New York and a Master of Business Administration in Finance from Wagner College. He also holds a Master of Arts in Theology from Fordham University.
Three questions with Frank La Salla
What excites you most about being named President & CEO of DTCC?
DTCC is one of the most critical organizations in financial services because of the role it plays in safeguarding the global markets and promoting financial stability. I’m most excited for the opportunity to partner with an outstanding group of colleagues and clients to develop and advance new ideas and innovative solutions that strengthen the industry and bring greater efficiency, transparency, and resilience to the marketplace.
What message would you like to send to DTCC clients and stakeholders?
I’m committed to building upon DTCC’s strong reputation for advancing key industry issues and initiatives and partnering with our clients and stakeholders to address the complex challenges they face. As someone who has relied upon DTCC as a strategic partner for many years, I will bring a unique perspective to these matters and will work with industry stakeholders to further enhance the collaborative relationships we have and seek to identify and unlock opportunities to deliver greater value for your respective organizations and the industry overall.
Can you explain how your background prepared you for the role of CEO?
I’ve focused a large part of my career in finance on securities servicing, and in virtually every role I’ve held, DTCC has acted as a strategic partner to support the success of my business. At the same time, I bring a global perspective and unique set of experiences to the organization, including a client view, which will help us grow our role as a trusted partner and advisor. My background will enable me to further strengthen the firm’s efforts to identify industry needs and work collaboratively with our stakeholders to solve these challenges while continuing to drive innovation.