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Omgeo appoints new board chairman
16 October 2013
DTCC president and CEO Michael Bodson replaces Andrew Gray
Michael Bodson, president and CEO of the DTCC, will join Omgeo’s board of managers as chairman.
Bodson takes the role from Andrew Gray, managing director of core business management at the DTCC, who will remain a member of the board.
The changes follow the recent announcement that DTCC has acquired full ownership of Omgeo.
Joan Binstock, chief financial and operations officer at Lord Abbett, also joins the board as a member.
As chairman of the board, Bodson will lead the development and execution of DTCC’s strategy and also its operating subsidiaries Depository Trust Company, Fixed Income Clearing Corporation, and National Securities Clearing Corporation.
“Omgeo continues to make significant headway in strengthening middle and back office operations to benefit market participants and the broader financial markets” said Mike Bodson.
“We share a common mission to protect our clients and the financial markets by providing market-leading solutions that create efficiencies, increase transparency, and reduce risk in post-trade operations.
"Our task now is to capitalise on the synergies between each organization to deliver a single, global strategy for post-trade processing and settlement.”