Following the announcement that DTCC acquired full ownership of Omgeo, Michael Bodson, the president and CEO of The Depository Trust & Clearing Corporation (DTCC), is joining Omgeo’s board of managers as chairman.
Bodson assumes the role from Andrew Gray, managing director of core business management at DTCC, who will remain a member of the board.
In addition, Joan Binstock, chief financial and operations officer at Lord Abbett & Co. LLC, joins as a member of the board.
Board members are responsible for representing the interests of the firm’s 6,500 clients globally as decisions about strategy, governance and operations are made.
As president and CEO of DTCC, Bodson is responsible for leading the development and execution of DTCC’s strategy as well as its principal operating subsidiaries, Depository Trust Company (DTC), Fixed Income Clearing Corporation (FICC) and National Securities Clearing Corporation (NSCC). He is also a member of DTCC’s board.
At Lord Abbett, Binstock is responsible for financial and operational support, as well as oversight of the firm’s financial reporting, operations processing and account administration functions. In this role, she oversees the support of the investment team sales and marketing initiatives, client-related activities, and the financial resources of the firm.
