The Depository Trust & Clearing Corporation (DTCC) has appointed Mathew Keshav Lewis to head up its new syndicated loan business in Europe. Lewis will become vice president, European loans product management, and lead the business development for DTCC’s new LoanServ product line in Europe.
LoanServ is a new suite of services that DTCC says will help automate and streamline the processing of syndicated commercial loans in both Europe and the US.
Lewis will be based in London and report directly to Christopher Childs, vice president, global loans product management, who is based in New York.
Lewis comes to DTCC from ACBS/ClearPar, a division of Fidelity National Information Services (FIS) in London, where he served as director of business development and oversaw the sales, product development and relationship management for a variety of loan settlement and trading services.
Prior to working at FIS, Lewis was the US sales manager for Computasoft/Dealogic in New York and was responsible for the sales and management of financial software applications for the loan syndication market.
Childs explains the reason behind Lewis’s appointment: “Mathew brings a wealth of experience and knowledge to this position and has a firm grasp of the unique workings of the European syndicated loan market. He understands the challenges the industry faces in automating and streamlining this complicated process and knows how best to work with customers as we move closer to straight-through processing.”
DTCC will introduce two LoanServ products in Europe and the United States in 2008, including a loan commitment position reconciliation service, which is scheduled to launch in the third quarter of this year. DTCC says this will enable agents to reconcile lender positions on individual loans every day. A second service, scheduled for release in the fourth quarter of 2008, will be an automated, secure communication network through which agent banks can transmit standard loan messages to market participants.