The Depository Trust & Clearing Corporation (DTCC) has appointed OTC derivatives market specialist Stewart Macbeth as managing director at the DTCC and general manager of the Trade Information Warehouse (Warehouse). The Warehouse is the US central repository and post-trade processing infrastructure for OTC credit derivatives contracts.
Macbeth, who will be based in DTCC’s London office, will be responsible for all aspects of the day to day operations and continuing development of warehouse services globally. He reports to Peter Axilrod, managing director, DTCC business development and Deriv/SERV.
“Having someone with Stewart’s extraordinary experience and extensive knowledge of this complex market positions us well to expand the benefits of DTCC’s central repository with services for CDS and to determine the extendibility of the warehouse to other OTC derivative asset classes,” says Michael Bodson, executive managing director, business management and strategy.
Macbeth comes to DTCC with more than 15 years of OTC derivatives industry experience. He was most recently managing director, global head of operations risk and business architecture at UBS, a position he held since 2007. From 1996 to 2002, he ran fixed income derivatives operations globally for the firm, managing credit derivatives support activities, which also included designing and implementing settlement and confirmation applications. In 2002, he became global head of all OTC derivatives operations, at which time he assumed responsibility for equity derivatives.
Prior to UBS, Macbeth was at KPMG in London, in their financial services practice, where he qualified as a chartered accountant.