The DTCC, a post-trade market infrastructure provider for the financial services industry, reports that Jim Turley, co-head of group technology and operations for Deutsche Bank, has been elected to its board of directors, officials say.
The board “provides direction and oversight for DTCC in the interests of its diverse stakeholders, while promoting safety and stability across the global financial markets,” DTCC says in a statement specifying that the current board is made up of 19 directors.
“Of these, 12 are representatives of clearing agency participants, three are non-participant directors, two are designated by DTCC’s preferred shareholders, and the remaining two are DTCC’s executive chairman and its president and chief executive officer. Jim Turley joins the board as a clearing agency participant director,” according to the DTCC.
Turley’s career at Deutsche Bank began in 1989 and, according to DTCC, he has held “various senior management positions in both the business and infrastructure functions, including global head of foreign exchange and commodities and global head of the institutional client group. In 2011, Mr. Turley took on the role of Global Chief Operating Officer for the global transaction banking business.”
After five years on the board, former director John Parker, executive vice president at Wells Fargo Advisors and head of services and operations, “did not stand for re-election at the annual shareholders meeting,” DTCC also notes.
In 2014, DTCC’s subsidiaries processed securities transactions valued at approximately $1.6 quadrillion, and its depository provides custody and asset servicing for securities issues from over 130 countries and territories valued at $64 trillion, according to the DTCC.
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