DTCC has appointed Brian Steele as managing director and president of clearing and securities services, effective 2 October. He will report to Francis La Salla, DTCC president, CEO and director.
Based in New York, Steele will be responsible for all of DTCC’s clearing and securities services businesses including equity clearing and settlement, fixed income clearing, wealth management services, asset services and institutional trade processing (ITP).
As he joins DTCC, Steele has also been named chair of the ITP Board of Managers, and will become a member of the DTCC Management Committee, Management Risk Committee and Investment Management Committee.
With two decades of industry experience, Steele joins DTCC from Goldman Sachs. He spent more than 19 years with the bank, most recently as global head of market structure solutions for the global markets division. Earlier in his tenure, Steele held roles leading digital transformation, exchange and clearing operations and trading control operations.
Alongside this, Steele serves as a board member for AccessFintech, IT firm Droit and financial services provider Acadia, part of LSEG.
Commenting on his appointment, Steele says: “[I will] use my experience to advance initiatives that will strengthen market structure, develop new products and capabilities that address industry pain points and protect the stability of the global financial system, and support clients as they navigate a challenging and fast-moving environment.”
La Salla adds: “Brian [brings] his expertise in clearance, settlement, middle-office operations, digital transformation and client engagement to DTCC to lead these critically important businesses. Brian’s understanding of client needs and his focus on client experience, combined with his strategic approach, strong industry relationships and appreciation for DTCC’s role in the industry, will enable him to lead key initiatives while driving innovation in the development and delivery of new solutions.”
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