DTCC Names Bridget E. O’Connor Chief Technology Officer

NEW YORK--(BUSINESS WIRE)--The Depository Trust & Clearing Corporation (DTCC) has named Bridget E. O’Connor Managing Director and Chief Technology Officer (CTO).

“Bridget’s leadership in developing and maintaining high-quality infrastructure systems and business continuity programs on Wall Street is both well known and highly regarded”

O'Connor will be responsible for overseeing the critical information technology infrastructure at DTCC, including core networking services, processing and messaging systems, distributed systems and business continuity. This infrastructure protects the certainty and reliability of DTCC post-trade processing capacity, which currently exceeds 850 million transactions in a single day, or nearly three times the highest peak volumes experienced by the more than 50 trading venues in the U.S. (e.g., NYSE, Nasdaq, electronic communications networks and alternative trading systems). In addition, this infrastructure manages and ensures the resiliency of all data transmission and telecommunications for thousands of financial firms who are customers of DTCC.

O’Connor will report to William Aimetti, DTCC’s Chief Operating Officer and President. She will join DTCC on August 31.

“Bridget’s leadership in developing and maintaining high-quality infrastructure systems and business continuity programs on Wall Street is both well known and highly regarded,” said Aimetti.

“Our technology infrastructure organization plays a key role in helping the broker/dealers, banks, mutual funds, insurance carriers, buy-side community and other third-party financial intermediaries who make up DTCC’s customer base, lower the cost to access their trading parties and leverage our services through what is essentially a networked community of users,” Aimetti said. “And as our customers increasingly are headquartered in Europe as well as the U.S., we face new challenges both in extending the reliability and low-cost infrastructure to new customer segments and in supporting new asset classes of financial products worldwide. Bridget brings the global experience and record of success that we believe will continue to differentiate DTCC in the future.”

Most recently, O’Connor had been Chief Information Officer (CIO) and Global Head for Business Continuity for Lehman Brothers Holding, Inc., a position she had held since 2006. She was responsible for all aspects of technology at the firm, and had operational management of the global business continuity organization. The technology organization consisted of more than 6,500 people in four major locations globally. While at Lehman, she aligned IT objectives with the broader business objectives and created an ongoing partnership between business and technology leaders.

During her 19-year career with Lehman, she served in a number of other key technology management positions. From 2002 to 2006, she served as Chief Technology Officer and from 1997 to 2002, as Senior Vice President and Global Head, e-Commerce technology. She was the architect of the firm’s web portal as a standard delivery vehicle for all of Lehman’s electronic processes. The Lehman Live portal delivered more than 450 applications.

Prior to joining Lehman Brothers, O’Connor worked from 1985 to 1991 as an applications architect for AT&T Bell Laboratories.

O’Connor has been the recipient of numerous awards. She was named by Crain’s New York Business as one of the “100 Most Influential Women in NYC Business” in September 2007. O’Connor was a member of the SIA Business Continuity Committee, the Tibco CIO Council, Intel CIO Customer Advisory Council and HP Customer Advisory Council. She has been a guest speaker for The Bond Market Association, SIFMA, The Department of Defense and Venture Services community groups. She was also named one of technology’s “top power women” by Forbes.com.

O’Connor will replace Vincent Hilly, who has announced plans to retire in July 2010. To ensure a smooth transition, O’Connor and Hilly will work collaboratively until Hilly retires.

“Vince has had a long and distinguished 28-year career at DTCC,” Aimetti said. “He will be relinquishing the day-to-day operation of DTCC’s technology infrastructure to concentrate on strategic initiatives. All of us at DTCC are grateful for Vince’s many contributions and wish him well in his retirement.”

About DTCC

The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with financial firms and third parties who market these products. DTCC’s depository provides custody and asset servicing for more than 3.5 million securities issues from the United States and 117 other countries and territories, valued at $27.6 trillion. In 2008, DTCC settled more than $1.88 quadrillion in securities transactions. DTCC has operating facilities and data centers in multiple locations in the United States and overseas. For more information on DTCC, visit www.dtcc.com.

Editor’s note: A high-resolution photo of Bridget O’Connor is available at http://www.dtcc.com/images/bios/BridgetOConnor.jpg