DTCC Fills Deriv/Serv Post and Board Vacancies
Industry veteran Peter Tierney has been appointed regional head of Asia for DTCC’s Deriv/Serv, and will serve as head of business operations in Asia, officials say. Tierney, who will be based in Singapore, will report to Stewart Macbeth, CEO for DTCC Deriv/Serv.
Tierney has more than two decades of experience in pre- and post-trade processing, telecommunications, trading architecture and data management. He has served in senior executive positions with NYSE Euronext, BT Radianz and was a founding executive of Omgeo, DTCC’s joint venture with Thomson Reuters, officials say. He has spent most of his career in Asia.
DTCC launched its Asia Pacific global data center headquarters in Singapore in December 2012
as part of a global triangulated infrastructure to support DTCC’s Global Trade Repository (GTR) services, officials say. In March 2013, the Japan Financial Services Authority approved an application by DTCC Data Repository (Japan) KK (DDRJ) to become a Japanese OTC derivatives trade repository, which went live from April 1. The Tokyo-based repository is the first of its kind to be approved for the Japanese market.
The GTR will also play a key support role in the implementation of regulatory reporting for Hong Kong’s OTC derivatives market. DTCC has been working with the Hong Kong Monetary Authority (HKMA) to operate as an agent in sending data to HKMA on behalf of its participants, so that multinational entities can report once and meet their multiple reporting obligations.
In the U.S., after the annual shareholders’ meeting on April 18, 2013, the DTCC added five members to its board of directors—they are replacing board members who completed terms, made career changes or retired, officials say. The new board members are: Robert L.D. Colby, chief legal officer, FINRA; Paul H. Compton, co-chief administrative officer for the corporate and investment bank and deputy head of operations, JPMorgan Chase; David C. Crawford, executive vice president and head of global transaction banking services, State Street; Suni P. Harford, managing director and regional head of markets for North America, Citigroup; and Mark D. Linsz, corporate treasurer, Bank of America.
The DTCC board has 19 directors, including: three independent, non-participant directors, 12 directors from broker-dealers, custodian and clearing banks, and investment institutions; two directors designated by DTCC’s preferred shareholders (NYSE Euronext and the Financial Industry Regulatory Authority); and two management directors—the executive chairman and the president and CEO. All directors except those designated by the preferred shareholders are elected annually.
ASPire Expands Client Services
Jennifer Tank, vice president of Client Services, ASPire
ASPire Financial Services has appointed Jennifer Tanck as vice president of Client Services to oversee 30 newly hired industry and technical professionals assigned to improve client services for the provider of retirement plan solutions, officials say.
An ERISA attorney, Tanck has previously served as president and general counsel for a large national wealth management and retirement plan consulting firm and was instrumental in designing the firm’s fiduciary retirement plan consulting programs, officials say. Tanck started her career as a licensed financial advisor and was named a finalist for the Tampa Bay Business Journal’s Annual Business Woman of the Year award.
The new Client Services group is a multi-dimensional team that will engage clients in three primary areas: implementation, relationship management and customer support, officials say. The team will work closely with sales, operations, account management, billing and IT, to provide a single-point-of-contact for clients.
In addition, ASPire has hired Lisa Esker to lead the customer support team, Customer Service Manager. Esker, who once worked at Raymond James, was most recently assistant vice president, retirement plan services contact center.
American Century Searches for a Chief Investment Officer
The Kansas City, Mo.-based American Century Investments is without a chief investment officer (CIO) with the departure of CIO and Executive Vice President Enrique Chang left the $130 billion investment management firm earlier this month to pursue other opportunities, officials say. In the meantime, Chang, who held the top CIO post since 2007, will help the firm transition to a new CIO.
American Century has six CIOs covering particular disciplines via daily oversight and management of: fixed income, asset allocation, quantitative equity, U.S. value equity, U.S. growth equity and global and non-U.S. equity. Until a new CIO is named, these CIOs, who previously reported to Chang, will report to Jonathan Thomas, American Century’s president and CEO officials say.
BNP Paribas Securities Services Creates Post to Serve Australia
Global custodian bank BNP Paribas Securities Services has created the role of head of client strategy and communications and has promoted Peter Baker, formerly head of asset manager client relationships, to the post, officials say.
Baker will be responsible for developing client and consultant relationships, and ensuring the business is closely following market developments and long-term client requirements. He will report to Pierre Jond, managing director of BNP Paribas Securities Services Australia and New Zealand, and will join the Australasian Executive Management Group.
In addition, relationship management for existing asset owner and asset manager clients will be streamlined under the new role of head of relationship Management and Katharine Seymour, formerly head of asset owner clients has been promoted into this expanded role, officials say.
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