The Depository Belief & Clearing Company (DTCC), the premier post-trade market infrastructure for the worldwide monetary companies trade, introduced a number of key management appointments that develop into efficient on April 10, 2023. These leaders will report back to Francis (Frank) La Salla, DTCC’s President and Chief Government Officer, and serve on the corporate’s Administration Committee.
Susan Cosgrove, who has served as DTCC’s Chief Monetary Officer since 2013, has been named President, Clearing & Securities Providers. On this position, Cosgrove will lead all fairness and stuck revenue clearance and settlement, asset servicing and underwriting, wealth administration and institutional commerce processing companies for DTCC. With this appointment, she additionally turns into Chair of the ITP Board of Managers. Cosgrove brings a wealth of enterprise and monetary expertise to this position, having led Settlement & Asset Providers and Fairness & Mounted Earnings Clearing Providers previous to being appointed Chief Monetary Officer. Cosgrove assumes duty for the core clearance, settlement, asset servicing and wealth administration companies from Murray Pozmanter, who introduced that he’ll retire from DTCC on April 14.
Timothy Keady has been appointed Chief Consumer Officer. On this capability, Keady could have duty for main DTCC’s international gross sales, relationship administration, companions and advertising and communications features, driving the agency’s consumer technique throughout all DTCC services. He may also drive the expansion of the repository and derivatives companies, consulting and knowledge companies companies globally. Moreover, DTCC will nominate Keady to serve once more as Chair of the DTCC Deriv/SERV LLC Board of Administrators and the boards of DTCC Knowledge Repository (U.S.) LLC; DTCC Derivatives Repository Plc; and DTCC Knowledge Repository (Eire) Plc.
Renee LaRoche-Morris joins DTCC as Chief Monetary Officer. On this capability, LaRoche-Morris will lead DTCC’s international finance, treasury, strategic sourcing, actual property, company companies, program administration and new initiatives oversight features. She joins the corporate from State Road, bringing greater than 20 years of monetary companies expertise together with in finance, technique, operations and enterprise administration. Since 2021, LaRoche-Morris held a number of roles at State Road, together with Chief of Employees to the Chief Working Officer and Chief Administrative Officer of Shared Providers. She then transitioned to move the Integration Administration Workplace for State Road’s acquisition of the Investor Providers enterprise of Brown Brothers Harriman. Previous to State Road, LaRoche-Morris was a Managing Director at BNY Mellon, the place she held a number of roles together with Chief Working Officer of Funding Administration, Interim Chief Monetary Officer of Funding Administration and Chief Monetary Officer of Wealth Administration. LaRoche-Morris additionally held technique, operations and finance roles at Pershing LLC, the broker-dealer subsidiary of BNY Mellon, and at Deloitte Consulting.
La Salla mentioned, “We’re more than happy to welcome Renee to DTCC and congratulate Susan and Tim on their appointments. We’re lucky to have these proficient and skilled trade leaders serve in these key positions to advance vital initiatives that defend the protection and stability of the worldwide monetary markets whereas creating new alternatives for our purchasers to develop and obtain optimum efficiency.”
