The Depository Trust & Clearing Corporation (DTCC) has appointed ex-TowerGroup executive Robert Hegarty to the newly created position of managing director of market structure. In his new role, Hegarty will be spearheading the vendor’s efforts to identify new market and growth opportunities focused on the front office and trading communities.
Hegarty joins DTCC from TowerGroup, where from 2002 he served as managing director of its Securities & Investments and Insurance division. In this position he led a staff that provided research and advisory services to executives in the investment management, wealth management, hedge fund, brokerage, capital markets and insurance industries.
Prior to this, he worked at financial institutions including Putnam Investments, Fidelity Investments and Coopers & Lybrand.
Donald Donahue, chairman and CEO of DTCC, says the appointment of Hegarty is part of the vendor’s strategic repositioning to diversify its business lines beyond its traditional remit. The vendor is attempting to make a push into front office technology provision and expects that Hegarty’s consultancy experience will give provide valuable insight into client requirements.
Hegarty will report to James Leonard, managing director of strategy and marketing.