DTCC executives, led by President & CEO, Mike Bodson, and the Manila senior leaders at the opening of DTCC’s Manila office. From L-R: Tim Fradette, Ken Wong, Kaye Capinpin, Marivic San Luis, Kurt Holweger, Tony Portannese, Mike Bodson, Matthew Chan, Doris Jurisson, Paula Arthus, Nellie Dagdag and Jen Espiritu.
The Depository Trust & Clearing Corporation (DTCC) opened its new office in Manila to support DTCC’s growing global operations and its fast expanding client community worldwide. The office is located in the Philippine Economic Zone Authority’s (PEZA’s) Special Economic Zone in Makati City.
DTCC serves almost 1,000 clients across Asia, including global and regional investment managers, hedge funds, broker/dealers and custodian banks. In addition to Manila, DTCC also has local offices in Singapore, Japan, Hong Kong, China, South Korea and Australia.
The range of business functions covered by DTCC’s Manila office includes Sales and Solution Delivery (inside sales, account management, client onboarding, training and integration), Client Operations (contact center, service bureau, product operations and incident management), Technology (primarily operations and enterprise infrastructure), Human Resources, Global Finance and Corporate Services, GTR (Global Trade Repository) Operations, Global Risk and Compliance, and Product Management.
DTCC opened it first office in Manila in 2003 with 10 employees. In 2006, business operations expanded to include the APAC Client Contact Centre. In 2008, the APAC Client Contact Centre extended its scope to cover the Americas and EMEA regions and, today, the team in Manila – operating under the “DTCC Manila” brand name – has grown to over 200 employees responsible for various business functions. The DTCC Manila office is projected to double in size in the next five years in support of client growth and support requirements.
“The World Bank has described the Philippines as ASEAN’s* fastest-growing economy and Asia’s second-fastest next to China,” commented Nellie Dagdag, Executive Director of DTCC Asia. “Backed by a ready pool of tech-savvy, customer-focused talents and world-class telecoms infrastructure, the Philippines is an ideal business location to house our huge resources – as part of DTCC’s global network – to deliver high-quality, 24x7 services to our expanding global community.”
*ASEAN = Association of South East Asian Nations, consisting of the Philippines, Singapore, Malaysia, Thailand, Indonesia, Vietnam, Brunei, Laos, Cambodia and Myanmar.