The Depository Trust & Clearing Corp. appointed Noel Donohoe to the firm’s newly created position as group chief risk officer. He brings more than 20 years of experience for the industry leader in global risk management. The DTCC is a third-party securities settlement service. Through seven subsidiaries, the DTCC provides clearing services for corporate and municipal bonds as well as government and mortgage-backed securities, and other investment tools. The DTCC settled more than $1.88 quadrillion in securities transactions in 2008 alone, the website said. For his part, Donohoe previously was the managing director of global head of product control at Credit Suisse, where he built product control process globally, created organizational structure and redesigned systems. “I am excited to be joining such a talented and dedicated team of professionals who recognize the importance of risk management as a core capability,” Donohoe said. In August, Donohoe will join DTCC to formulate the overall management strategy toward the enterprise, operational and systemic risk teams. “We are thrilled to have Noel join us at this crucial point in time when so much change is taking place in the world’s financial infrastructure,” said DTCC Executive Chairman Robert Druskin. Write to Matthew Torres
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