Omgeo welcomes Donald Donahue, chairman and CEO of the Depository Trust & Clearing Corporation (DTCC), as the new chairman of its board of managers. Richard Macek, former executive managing director Risk and Finance for DTCC, who has served as chairman of Omgeo’s board of managers since December 2004, retires from his position, having played a key role in Omgeo’s successful evolution from a young joint venture to market leader in the post-trade space.
Cynthia Meyn, senior vice president and senior operations manager of Pimco, joins the Omgeo board to replace Jacques-Philippe Marson, former president and chief executive officer, BNP Paribas Securities Services. Markus Ruetimann of Schroder Investment Management Limited, is leaving the Omgeo board, where he served as member since 2003, having contributed to an important phase in Omgeo’s development.
Omgeo’s global board is made up of 11 broadly representative members of the financial industry, who play a vital part in the ongoing governance and industry oversight of the organisation. The board is responsible for representing the interests of all Omgeo’s client base around the world on a wide range of issues relating to strategy, governance, risk management and operations.
“I am delighted to welcome Don and Cynthia to Omgeo’s board of managers and am excited about the wealth of knowledge my esteemed colleagues bring,” said Marianne Brown, CEO of Omgeo. “Don’s extensive financial services background and current role at the DTCC position him extremely well as our new chairman. Cynthia’s deep pool of expertise in the derivatives space will help Omgeo validate and shape its strategic direction, especially since derivatives processing and counterparty risk management will remain key issues for our industry in 2010.”
“Rick Macek, Jacques-Philippe Marson and Markus Ruetimann will be thoroughly missed. In particular, I am extremely grateful for Rick’s contribution to Omgeo’s success and would like to thank him personally for the valued guidance and support over the past few years,” added Marianne Brown.
“Omgeo is uniquely positioned in the world to link counterparties, automate an extended range of trade life cycle events and help mitigate risk between trade counterparties,” said Don Donahue, “I am very committed to the essential work Omgeo is doing and the enormous benefits it is bringing to the industry globally.”
Donahue has been chairman and CEO of the Depository Trust & Clearing Corporation since 2007, and serves in this capacity for three of its primary operating subsidiaries including The Depository Trust Company, Fixed Income Clearing Corporation and National Securities Clearing Corporation. Prior to becoming Chairman, Donahue served one year as President and CEO of DTCC and its primary subsidiaries and three years as Chief Operating Officer. He has been with DTCC and its predecessor organisations since 1986, where he held various roles including strategic planning, product development, relationship management, applications development and technology. Before that he worked for five years at Barr Brothers & Co, Inc., a broker dealer specialising in municipal securities. He also worked for the Municipal Securities Rulemaking Board (MSRB), from 1977 to 1985. Donahue was also appointed by the U.S. Secretary of the Treasury and served from May 2004 to June 2006 as Sector Coordinator and Chairman of the Financial Services Sector Coordinating Council (FSSCC) for Critical Infrastructure Protection and Homeland Security. FSSCC coordinates the private sector’s preparation and sharing of best practices across the financial services industry.
Meyn currently leads PIMCO’s US operations team and represents PIMCO as a member of industry groups such as the DTCC Operations Advisory Committee, the Operations Management Group (OMG), and the SIFMA Asset Management Group’s market practices committee. Before joining PIMCO in 2008, Meyn was the managing director of North American operations at Morgan Stanley Investment Management. Previous roles also included global co-director of fixed income and derivative technology at Alliance Bernstein, managing director of global fixed income technology at Cantor Fitzgerald, and chief technology and risk officer at Mizuho Capital Markets, formally known as Fuji Bank.
Omgeo’s board of managers currently is comprised of: Donald Donahue, chairman and chief executive officer, DTCC, and chairman of the Omgeo Board of Managers, Paula Arthus, managing director, relationship management, DTCC; Jonathan Beyman, managing director, global head of operations and technology, Citigroup; Taylor Bodman, partner, Brown Brothers Harriman; Matthew Burkley, chief financial officer, sales and trading, Thomson Reuters Markets Division; John Devine, chief operating officer, Threadneedle; Marianne Doan, executive vice president, The Northern Trust Company; Peter Johnston, managing director, global securities and clearing operations, Goldman Sachs & Co.; Jon Robson, president, enterprise, Thomson Reuters; Cynthia Meyn, senior vice president and senior operations manager, Pimco; and Marianne Brown, president and chief executive officer, Omgeo.