Bishop assumes the CIO post as DTCC advances the strategic replatforming of its technology and provides industry-wide leadership on fintech
New York/London/Hong Kong/Singapore/Sydney, October 28, 2019 ‒ The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced the appointment of Lynn Bishop as Chief Information Officer (CIO), effective immediately. In this role, Bishop is responsible for the ongoing development and testing of all the technology that supports DTCC’s post-trade infrastructure, communications networks, processing and messaging systems, as well as the IT applications underlying DTCC’s broad range of products and services. Bishop is a member of the firm’s Management Committee and now reports directly to DTCC’s CEO, Michael Bodson.
Prior to this, Bishop served as DTCC’s Chief Development Officer (CDO) and, before that, was Chief Technology Officer (CTO). During her nearly 15 years at DTCC, Bishop has been a driving force behind several strategic IT initiatives, including expanding and re-platforming the underlying IT infrastructure for the Global Trade Repository (GTR) service, developing enhancements to improve settlement finality and transparency in the settlement of money market transactions and overseeing the transition to a T+2 settlement cycle in the US. She has also been instrumental in guiding DTCC technology decisions around the adoption of emerging technologies, including DLT, cloud, robotics, machine learning and AI.
A champion for diversity and inclusion, Bishop dedicates her time and shares her experiences to support the advancement of women in STEM careers. She was recently appointed as DTCC’s senior sponsor of Girls Who Code, a national non-profit organization working to close the gender gap in technology, and actively supports DTCC’s D&I efforts, including programs and initiatives that are helping to develop emerging talent and women in technology.
“We are pleased to appoint Lynn as our new CIO at a critical time when emerging technology is reshaping how the financial markets operate,” said Michael Bodson, President & CEO at DTCC. “Lynn’s reputation for having deep insights on a wide range of technology issues, a natural ability to problem solve complex IT challenges and a collaborative approach will be important as we continue to rearchitect our systems and assess and adopt new technologies to continue to enhance how we serve our clients and protect the industry.”
Bishop replaces Bob Garrison, who plans to retire in February 2020 after nine years with DTCC, the past eight as CIO.
Bodson added, “Under Bob’s leadership, DTCC has increased the stability and resiliency of our technology platforms, and we have made significant progress in modernizing our IT infrastructure. On behalf of the Board and Management Committee, we thank Bob for his dedication and service to DTCC and our clients, and wish him health, happiness and luck on his upcoming retirement.”
With over 45 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 processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm simplifies the complexities of clearing, settlement, asset servicing, data management, data reporting and information services across asset classes, bringing increased security and soundness to financial markets. In 2018, DTCC’s subsidiaries processed securities transactions valued at more than U.S. $1.85 quadrillion. Its depository provides custody and asset servicing for securities issues from 170 countries and territories valued at U.S. $52.2 trillion. DTCC’s Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes over 14 billion messages annually. To learn more, please visit us at www.dtcc.com or connect with us on LinkedIn, Twitter, YouTube and Facebook.