Press Releases

Sep 22, 2015 • Press Releases

DTCC APPOINTS MARK WETJEN TO LEAD THE FIRM’S GLOBAL PUBLIC POLICY ACTIVITIES

New York/London/Hong Kong/Singapore, 22 September 2015 – The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced the appointment of Mark Wetjen as Managing Director with responsibility for leading the firm’s global public policy function and related business and legal activities. Mr. Wetjen will join DTCC on September 28, 2015, and will be based in Washington, D.C. He will report to Larry Thompson, Vice Chairman of DTCC and General Counsel.

“We are delighted to welcome Mark to DTCC as we continue to grow our role as a resource on how financial market utilities can help achieve the risk mitigation and transparency goals of policymakers,” said Mr. Thompson. “Mark’s reputation for consensus-building and his collaborative and thoughtful approach to addressing complex topics related to financial reform will be critical as policymakers continue implementing new rules to govern the financial markets.”

“DTCC has been a strong public advocate for the tenets of the G20 and Dodd-Frank market reforms, and has worked in partnership with regulators and lawmakers to advance these principles in the best interests of all stakeholders,” said Mr. Wetjen. “It was important for me to join a company that shares this commitment and that will continue to be a leading voice in support of policy designed to enhance the stability of the global marketplace. It also was important for me to join a dynamic organization with a strong leadership team that embraces new technologies and innovations in pursuit of those goals.”

In Europe and Asia, Wetjen will work in partnership with Andrew W. Douglas, Chief Executive Officer of DTCC’s European Trade Repository (DDRL Europe), on outreach to policymakers in the region.

Mr. Wetjen previously served as commissioner on the U.S. Commodity Futures Trading Commission (CFTC) from October 2011 to August 2015, including 5 months as acting chairman in which he managed daily operations, set overall policy direction of the agency and served as a principal on the U.S. Financial Stability Oversight Council. During his tenure, Mr. Wetjen oversaw implementation of the first trading mandate for certain interest rate and credit default swaps and supported and helped craft over 90 proposed and final CFTC rules and orders implementing Dodd-Frank. He also was sponsor of the CFTC’s Global Markets Advisory Committee.

Prior to joining the CFTC, Mr. Wetjen worked for 7 years in the U.S. Senate as a senior leadership staffer advising on all financial-services-related matters, including the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Before that, Mr. Wetjen was a lawyer in private practice.

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About DTCC

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.

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Contacts

Kristi Bartlett, DTCC

Email

kristi.bartlett@omgeo.com

Phone

+1 617 880 6770

Audra Tiner, Articulate Comms
+1 212 255 0080
atiner@articulatecomms.com

 

Sherman Ko, Ryan Communication
+852 6101 0487
sherman@ryancommunication.com

 

Melissa Rowling, Greentarget
+44 (0)20 7324 5490
melissa.rowling@greentarget.co.uk

 

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