DTCC Names Brian Steele as President of Clearing & Securities Services

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, announced Wednesday (September 27) the appointment of Brian Steele as Managing Director and President of Clearing & Securities Services, effective October 2, 2023. Steele will be a member of the DTCC Management Committee, Management Risk Committee and the Investment Management Committee. Additionally, he will serve as the Chair of the ITP Board of Mangers.

In his role as President of Clearing & Securities Services, Steele will assume the responsibility of overseeing all DTCC Clearing and Securities Services business, which encompass Equity Clearing and Settlement, Fixed Income Clearing, Wealth Management Services, Asset Services, and Institutional Trade Processing (ITP). He will report directly to Francis (Frank) La Salla, the President, CEO, and Director of DTCC.

Prior to DTCC, Steele has been with Goldman Sachs for nearly 20 years, where he worked as Global Head of Market Structure Solutions for Global Markets Division since July 2022. He has held various key operations-related roles during his Goldman Sachs tenure, including Global Head of Market Solutions for Global Markets Division, Global Head of Digital Transformation, Global Head of Market Solutions for Operations Division, Global Head of Exchange & Clearance Operations and Trading Control Operations, Global Head of Control and Quality Management, etc.

"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," said La Salla, President, CEO, and Director of DTCC. "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."

"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," said Steele. "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."

In July, Yonesy Núñez, an industry expert with extensive experience in directing IT risk, cyber security, and information security functions, joined the DTCC as Managing Director and Chief Information Security Officer (CISO), leading Information Security and Technology Risk Management as the firm advances its technological modernization efforts.