What Happened?
New York, NY-based Depository Trust and Clearing Corporation Promoted Stephen Scharf as Managing Director, Global Head of Operational Risk and Chief Security Officer
About the Company
With more than 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 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 and information services across asset classes, bringing increased security and soundness to financial markets. In 2016, DTCC`s subsidiaries processed securities transactions valued at more than U.S. $1.5 quadrillion. Its depository provides custody and asset servicing for securities issues from over 130 countries and territories valued at U.S. $49.2 trillion. DTCC`s Global Trade Repository maintains approximately 40 million open OTC positions per week and processes over one billion messages per month.
About the Person
Stephen Scharf is Managing Director and Chief Information Security Officer (CISO) at BlackRock. Previously, Stephen held various senior IT leadership roles in the industry.
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