DTCC appoints Lisa Hershey as new chief compliance officer

Depository Trust & Clearing Corporation (DTCC), the post-trade infrastructure firm, has appointed Lisa Hershey as its new chief compliance officer.

Herhsey has worked at DTCC for more than a decade

Hershey, whose appointment comes into effect on 1 January 2021, will report to DTCC general counsel Ann Shuman.

She has spent more than a decade at DTCC and is currently managing director for operational risk.

Hershey was a managing director in enterprise risk management (ERM) prior to her current role. She had responsibility for the department’s project management and reporting, regulatory communications, policies and procedures, and management risk committee and board risk committee governance processes.

Hershey also worked for Merrill Lynch for 12 years. She held various roles within Merrill Lynch’s compliance, market and credit risk management, and capital market areas.

According to the post-trade firm, she has been a “driving force”. Hershey has expanded and strengthened its capabilities to “identify, assess, manage, report and remediate operational risks.”

General counsel Shuman says Hershey’s expertise will be “critical” as she oversees a team navigating “an ever-growing list of rules and requirements” across multiple jurisdictions.

She adds: “We look forward to her continued leadership and contributions to this key DTCC function.”

Hershey will replace Susan DeSantis, the firm’s current CCO, who plans to retire in early 2021 after capping a 25-year career at the organisation.