The Depository Trust & Clearing Corporation (DTCC) has made two executive management appointments in its Global Trade Repository business, including Chris Childs as CEO of DTCC Deriv/SERV (the OTC derivatives asset servicing and repository subsidiary) and Ian McLelland as CEO of DTCC’s European Trade Repository (DDRL Europe).
Childs will be replacing Sandy Broderick, who will be leaving to pursue opportunities outside DTCC, says a spokesperson.
The Deriv/SERV board has approved the change, and Broderick will be leaving DTCC shortly, following the transition of responsibilities to Childs.
Since 2013, Childs served as chief operating officer of DTCC
Deriv/SERV, and now, he will oversee all aspects of DTCC’s OTC derivatives global post-trade processing and trade reporting services.
He has more than 30 years experience in consumer and corporate banking operations, including time at Citi, where he served as global processing head of Capital Markets Operations.
McLelland took over the day-to-day operations of DTCC’s European trade repository in July from Stewart Macbeth, who also left to pursue opportunities outside DTCC.
McLelland is now responsible for all aspects of the business, including new product development, regulatory outreach and strategy.
He joined DTCC in 2011 and oversaw the firm's global trade repository product development division.
In all, he has 20 years of experience in financial services, particularly in interest rate and credit derivatives risk management and financial reporting.
Before DTCC, he most recently served as executive director, Finance Technology, for JP Morgan.
“The dynamic regulatory environment is creating new opportunities for
DTCC to help financial firms meet complex derivatives trade reporting requirements in the most efficient and cost-effective manner possible,” said Larry Thompson, DTCC general counsel and chairman of the DTCC Deriv/SERV board of directors.
“As we continue increasing our coverage to new markets worldwide, Chris and Ian bring a combined half-century of experience to drive product innovation and enhance our ability to serve clients and the industry.
They will also build upon the work we are doing with regulators to enhance transparency and mitigate risk in this market.”