DTCC Elects Three New Board Members
New directors join board of 19
The Depository Trust and Clearing Corporation (DTCC) has announced that three new members have been elected to its board of directors.
The new directors are Lester Owens, managing director and global head of wholesale banking operations at JPMorgan; Paul Simpson, managing director and global head of equity asset management services at Bank of America Merrill Lynch; and Joseph Weinhoffer, treasurer and chief investment officer of ED&F Man Capital Markets.
Currently, the board is composed of 19 directors. Of these, 12 are representatives of clearing agency participants, three are non-participant directors, two are designated by DTCC's Series A and Series B preferred shareholders, and the remaining two are DTCC's chairman of the board and its president and chief executive officer. The three new members are all senior executives of clearing agency participants.
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