Susan Cosgrove (pictured) has been named as president of clearing and securities services, replacing DTCC veteran Murray Pozmanter. Pozmanter will retire on 14 April 2023, after more than 16 years with the company.
Alongside Cosgrove, DTCC has appointed Timothy Keady as chief client officer and Renee LaRoche-Morris as chief financial officer. The three will join the DTCC management committee and report to Francis La Salla, president and CEO.
Cosgrove has almost four decades of experience in the financial services industry, 24 years of which have been spent with DTCC. Since 2013, she has served as chief financial officer at the company, before which she led the settlement and asset services and equity and fixed income clearing services divisions.
In her new role, Cosgrove will be responsible for DTCC’s core clearance, settlement, asset servicing and wealth management businesses. She will also join the ITP board of managers as chair.
Keady has nearly 20 years of experience in the industry, which has been spent with DTCC and related companies. Earlier in his career, he was managing director of sales and solution delivery at DTCC financial services company Omgeo.
As chief client officer, Keady will lead DTCC’s global sales, relationship management, partners, marketing and communications divisions. He will be responsible for developing the firm’s repository and derivatives, and consulting and data services businesses worldwide.
DTCC will renominate Keady as chair of the DTCC deriv/SERV LLC board of directors, the DTCC data repository (US) LLC, the DTCC derivatives repository Plc and the DDTC data repository (Ireland).
LaRoche-Morris brings 30 years of experience to the role and joins DTCC from State Street, where most recently she was senior vice president and head of the integration management office for BBH investor services integration. She has held a number of senior roles, including investment management chief operating officer at BNY Mellon.
In her new position, LaRoche-Morris will lead the company’s global finance, programme management and new initiatives oversight activities. She will also be responsible for the treasury, strategic sourcing, real estate, corporate services and programme management functions.
Commenting on the appointments, La Salla says: “We are pleased to welcome Renee to DTCC and congratulate Susan and Tim on their appointments. We are fortunate to have these talented and experienced industry leaders serve in these key positions to advance critical initiatives that protect the safety and stability of the global financial markets while creating new opportunities for our clients to grow and achieve optimum performance.”
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