Brian Steele has been appointed president of clearing and securities services at the Depositary Trust and Clearing Corporation (DTCC), set to leverage his two decades of experience in clearance, settlement and middle office operations.
Steele’s position is effective from 2 October 2023, at which time he will also join the DTCC management committee, management risk committee and investment management committee, as well as becoming chair of the ITP board of managers.
Steele will report to Francis La Salla, president, chief executive and director of DTCC.
Speaking to his appointment, Steele said: “I’m excited to join DTCC to build upon its leadership role in the industry. It’s a great opportunity to use my experience to advance initiatives that will strengthen market structure, develop new products and capabilities that address industry pain points and protect the stability of the global financial system, and support clients as they navigate a challenging and fast-moving environment.
“I know first-hand that DTCC is trusted and respected by the industry, has outstanding talent and expertise and is committed to leading positive change in partnership with our industry colleagues and stakeholders.”
Steele will lead all of DTCC’s clearing and securities services businesses, which includes equity clearing and settlement, fixed income clearing, wealth management services, asset services and institutional trade processing (ITP).
He has held various senior roles during his two decades of experience in the industry, including several senior-level roles at Goldman Sachs. He was most recently managing director, Americas client coverage group and global head of client and market solutions.
In an announcement, La Salla said: “We’re pleased to have a seasoned executive like Brian bring his expertise in clearance, settlement, middle office operations, digital transformation and client engagement to DTCC to lead these critically important businesses.
“Brian’s deep understanding of client needs and his focus on client experience, combined with his strategic approach, strong industry relationships and appreciation for DTCC’s role in the industry, will enable him to lead key initiatives while driving innovation in the development and delivery of new solutions.”