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DTCC Names Gray to Oversee Core Businesses

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The Depository Trust & Clearing Corporation (DTCC) has appointed Andrew Gray, a long-time Merrill Lynch & Co veteran, to the new position of managing director, Core Product Strategy and Management.

In his new position, Gray will be responsible for overseeing DTCC’s core businesses, including US Clearance and Settlement of equities and fixed income products, Asset Services, Wealth Management Services and Insurance & Retirement Services. He will report to Michael Bodson, executive managing director for business management and strategy.

“Andrew brings more than 20 years of financial services experience to DTCC, with a substantial background in both U.S. and international activities,” said Donald Donahue, DTCC chairman and CEO. “He has a proven record in restructuring and growing businesses and has broad management experience in strategy, finance and technology. We’re pleased to having him join DTCC in this senior leadership role, as we continue to build and expand our business globally.”

Gray has spent more than a decade with Merrill Lynch. Most recently, he served as managing director and chief operating officer for Merrill’s Latin America and Canadian businesses, where he was responsible for the development and execution of the strategic plans and business growth initiatives for the region. Gray also was responsible for overseeing all support, control and infrastructure functions for the business. In addition to his COO responsibilities, he also served as country executive for the Central American, Andean and Caribbean region.

Before that, Gray served as a managing director in Strategy and Business Development for Merrill’s Global Markets and Investment Banking businesses and for Global Securities Research & Economics. In that role, he oversaw market analysis, strategic and business planning and execution and client segmentation analysis for multiple businesses.

Prior to his role on the Strategy and Business Development team, Gray was head of Corporate Planning for Merrill, where he was responsible for firm-wide planning, forecasting and budgeting, analysis and reporting for senior management and the Merrill Lynch board of directors. In addition, he served as chief financial officer for major support functions.

Before joining Merrill Lynch in 1998, he was a principal at the management consulting firm Booz-Allen & Hamilton, where he specialised in strategy, technology, organisational redesign and business process redesign for financial services clients around the globe for almost a decade.

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