Fannie Mae EVP Joins BNY Mellon as COO
Edward Watson,
COO,
BNY Mellon
Investment management and services provider BNY Mellon has a new chief operations officer (COO) in Edward Watson, who was Fannie Mae’s executive vice president (EVP) for operations, technology and general services.Watson, who will be joining BNY Mellon on July 9, says in a statement his top goals in the post will be to enhance client focus and efficiency. As COO and EVP for BNY Mellon, Watson will oversee the operational activities in global delivery centers.
Since April 2009, Watson served as EVP for operations, technology and general services for Fannie Mae. His duties included overseeing all development, infrastructure and operational services.
“The creation of this new role is an important step toward achieving our corporate objectives of simplifying and improving processes, functions and systems and being smarter about how we run our company,” says a spokesperson for BNY Mellon. The spokesperson adds that Watson will play a crucial role in the effort to optimize operations as well as support the transformation of BNY Mellon’s enterprise operating model into one that is much more streamlined and responsive to clients.
Watson will report to Kurt D. Woetzel, BNY Mellon’s head of global operations and technology and chief administrative officer. Those reporting to Watson include senior managers overseeing global operations in US and non-US locations, officials say. Watson will also chair a COO council of peers and senior managers who oversee operations and delivery channels for businesses and business partners.
Prior to his time at Fannie Mae, Watson also held senior positions at Citigroup, Republic Bank and Shearson Lehman Brothers.
Former Ambassador Joins DTCC to help with Asia/Pac Outreach
A former U.S. ambassador to Malaysia Christopher J. LaFleur is joining the Depository Trust & Clearing Corp. (DTCC) as special advisor for government relations and regulatory outreach for Asia/Pacific.
LaFleur, who served as ambassador from 2004 to 2007 in the administration of President George W. Bush, has also held many foreign service positions including the director of the U.S. State Department’s Office of Vietnam, Laos and Cambodia.
“LaFleur will help establish and manage the company’s political and policy relationships with sovereign legislatures, regulatory agencies and other governmental bodies,” say officials at the DTCC. LaFleur will report to Dan Cohen, who serves as both the managing director and the head of the DTCC’s government relations group.
Most recently, LaFleur founded LM Associates in 2011, which provides strategic advice to financial firms on government policy and international relations in Japan and other Asia-Pacific countries. LaFleur also served as vice chairman of J.P. Morgan Chase in Japan where he worked as head of government relations and corporate responsibility. In addition, LaFleur is also a member of the board of directors of the Japan Society and the advisory committee of the US-Japan Research Institute.
In a related development, Michael C. Bodson will take over as the DTCC’s president and CEO on July 1 as was previously announced in April. He will succeed Donald F. Donahue, who will retire at the end of July after 26 years with the DTCC. Donahue has been the DTCC’s president and CEO since 2006.
Bodson, who is currently the DTCC’s chief operating officer (COO), was elected by DTCC’s Board at its April meeting, according to a report on the DTCC’s website. Bodson will also serve as CEO of DTCC’s principal operating subsidiaries: National Securities Clearing Corp. (NSCC), The Depository Trust Company (DTC) and Fixed Income Clearing Corp. (FICC). Bodson will also keep his post as a director on the DTCC’s board.
Donahue established a global footprint for the DTCC, had an influential voice in Washington, D.C. on behalf of the financial services industry, according to a statement from Robert Druskin, DTCC’s executive chairman.
Since 1986, Donahue has worked for the DTCC and its prior incarnations. He also served as Sector Coordinator for the U.S. Banking and Finance Sector from 2004 to 2006, under an appointment by then-U.S. Treasury Secretary John Snow, in connection with the U.S. Treasury Department’s responsibilities on critical infrastructure protection matters.
LCH.Clearnet Names Head of Collateral Services
Stephen Patriarco,
global head of collateral services & U.S head of collateral & liquidity management,
LCH.Clearnet
Stephen Patriarco has been appointed global head of collateral services and U.S head of collateral and liquidity management (CaLM) at LCH.Clearnet.
Patriarco will be responsible for developing LCH.Clearnet’s collateral management capabilities on a global basis and will provide localized support in collateral and liquidity management to U.S. clients, according to a statement from LCH.Clearnet.
Prior to LCH.Clearnet, Patriarco founded SJP Financial Consulting Services. Before SJP, Patriarco worked at several investment banks including Lehman Brothers, Credit Suisse and Merrill Lynch. His most recent position was as global head of derivative operations, futures, and collateral management at Merrill Lynch.
—Alexa Mehraban
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