Michael Bodson, DTCC CEO and President, maintained a steady stream of communications with employees from the outset of Hurricane Sandy on Sunday, October 28.
By the following Friday, Bodson informed everyone that processing had gone smoothly throughout the week and that DTCC had continued to operate seamlessly for clients and the industry. He commended and thanked the staff.
“Our clients have relied on DTCC for more than 40 years to ensure the smooth and efficient operation of the financial markets – and as we again demonstrated this week, there is no challenge that will prevent us from meeting that responsibility. On behalf of the senior management team, I want to personally thank each of you for your contributions. I recognize that many of you have been working long hours under less-than-ideal conditions while facing your own hardships at home, including power outages and property damage. This experience reinforces a well-known fact; we have the most dedicated, professional and battle-tested employees in the financial services industry and no matter how big the challenge, the DTCC team always rises to the occasion.”
The following week, on Tuesday, November 6, Robert Druskin, DTCC Executive Chairman, sent an audio message to employees.
“The success we’ve had has been the result of careful planning from lessons learned over the past 40 years of meeting our responsibilities to the industry in the midst of crises,” Druskin said. “In fact, from my short time here, it’s clear that during the most difficult moments, our team rises to the occasion because we know that so many others are relying on us to keep the markets operating efficiently. So I want to thank each of you for your contributions…. In fact, I think it’s not too soon to say that with this storm, we’ve written another chapter in our history of success – and that’s something to be proud of.”
The Tuesday before Thanksgiving, Bodson sent a special message of thanks to all employees.
“While the past several weeks have been a challenge, I am confident that we have emerged on the other side of the superstorm stronger and prouder than ever,” Bodson told employees. “It was uncharted territory – yet we never missed a beat. That’s a testament to our preparedness as an organization and, more so, to the commitment and dedication of each of you.”
Michael Bodson, DTCC CEO and President, speaks to staff at the emergency recovery center in Brooklyn.
Helping employees in need
In recognition of the fact that many DTCC people from the tri-state area were facing challenges as a result of the extensive damage caused by the storm, Bodson announced that DTCC had created a Hurricane Emergency Loan Program on Friday, November 11.
“To aid in your recovery efforts, DTCC will make available interest-free loans through the DTCC Hurricane Emergency Loan Program (HELP) for employees who are facing extraordinary expenses as a result of the storm,” Bodson told staff.
The company also distributed information on various resources to help employees assess their medical, daycare and other needs following the storm.@