DTCC makes second hire in bid to woo trading community

The Depository Trust & Clearing Corporation (DTCC), the US’s central clearing provider, has appointed Daniel G. Faryniarz, a former Merrill Lynch executive with experience in fixed income and derivatives sales, to the newly-created position of managing director, market structure and industry relations.
By None

The Depository Trust & Clearing Corporation (DTCC), the US’s central clearing provider, has appointed Daniel G. Faryniarz, a former Merrill Lynch executive with experience in fixed income and derivatives sales, to the newly-created position of managing director, market structure and industry relations.

In his new role, Faryniarz will help lead DTCC’s efforts to identify and develop new market opportunities in the front-office and trading communities. His appointment closely follows the announcement of DTCC’s hiring of Robert Hegarty, formerly of research and consulting firm TowerGroup, to a similar position at the end of March. Like Hegarty, Faryniarz will report to James Leonard, DTCC’s managing director of strategy and marketing.

“Danny is joining a team that will guide DTCC’s strategic direction through outreach to new clients and to new areas at existing client firms, where demand is growing for automated post-trade solutions,” said Michael C. Bodson, DTCC’s executive managing director, business management and strategy, in a statement. “Danny’s broad and deep knowledge of customers and their needs, and his understanding of complex derivative products will be an important asset for DTCC as we continue to broaden the markets we serve.”

Since 2004, Faryniarz has worked in Merrill Lynch’s Global Rate Sales division, initially as vice president and later as director. While at the broker he was responsible for a product mix across cash, derivatives, futures and repo. He has also held positions at Commerzbank Securities, Greenwich Capital Markets, Natwest Capital Markets and Lehman Brothers.

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