New York/London/Hong Kong/Singapore, 7 July, 2015 – The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced that Jim Turley, Co-Head of Group Technology and Operations (GTO) for Deutsche Bank, has been elected to its Board of Directors.
The Board provides direction and oversight for DTCC in the interests of its diverse stakeholders, while promoting safety and stability across the global financial markets. Currently, the Board is composed of 19 directors. Of these, 12 are representatives of clearing agency participants, three are non-participant directors, two are designated by DTCC's preferred shareholders, and the remaining two are DTCC's Executive Chairman and its President and Chief Executive Officer. Jim Turley joins the Board as a clearing agency participant director.
Mr. Turley has had an extensive career with Deutsche Bank, starting in 1989 (Bankers Trust Company), and has held various senior management positions in both the business and infrastructure functions, including Global Head of Foreign Exchange and Commodities and Global Head of the Institutional Client Group. In 2011, Mr. Turley took on the role of Global Chief Operating Officer for the Global Transaction Banking business.
“We’re very fortunate to have Jim joining our Board,” said Robert Druskin, Executive Chairman, DTCC. “We have a number of exciting opportunities ahead of us and Jim’s extensive experience in the financial services industry and global perspective will be invaluable as we continue to expand our mission to serve our clients and build upon our current momentum.”
After five years of service, former director John Parker, Executive Vice President at Wells Fargo Advisors and Head of Services and Operations, did not stand for re-election at the annual shareholders meeting and has left the Board.
Added Mr. Druskin, “We are grateful for John’s contributions to the Board and wish him well in his future endeavors.”
Notes to Editor
For a complete biography and photo for Mr. Turley, please click here.
With over 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From operating facilities, data centers and offices in 16 countries, DTCC, through its subsidiaries, automates, centralizes, and standardizes the post-trade processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers worldwide. User owned and industry governed, the firm simplifies the complexities of clearing, settlement, asset servicing, data management and information services across asset classes, bringing increased security and soundness to the financial markets. In 2014, DTCC’s subsidiaries processed securities transactions valued at approximately US$1.6 quadrillion. Its depository provides custody and asset servicing for securities issues from over 130 countries and territories valued at US$64 trillion. DTCC’s global trade repository maintains approximately 40 million open OTC positions and processes roughly 280 million messages a week. To learn more, please visit www.dtcc.com or follow us on Twitter @The_DTCC.