In his new role Bodson, 49, will be responsible for consolidating the product management of all DTCC business lines, strategic planning, relationship management and marketing under one umbrella.

He takes up his appointment on 1 March and will report directly to DTCC president and CEO Donald Donahue.

Donahue says the new position has been created to deliver a more rigorous business process management approach at a time of increasing volumes in new asset classes, globalisation of trade and industry consolidation.

"There's a whole new level of innovation required of us, and a much shorter time period for us to develop the kinds of capabilities the industry needs," says Donahue. "And if we can't do it, our customers won't hesitate to seek a competitor of ours that can."

Bodson joins the DTCC after a 20-year career at Morgan Stanley, where he was most recently managing director and global head of operations, responsible for supporting the institutional, retail and asset management groups.

Prior to this role Bodson was global head of the institutional securities operations, supporting all equity, fixed income and commodities products. He also had responsibility for operational risk, business continuity planning and information security.

Before that he served as divisional operations officer for Morgan Stanley's institutional securities group and head of the enterprise information group.
In the mid-1990s, he served as head of finance, administration and operations for the bank's operations in Tokyo and prior to that, he held similar responsibilities for Morgan Stanley Asia in Hong Kong.

Before joining Morgan Stanley in 1986 Bodson worked at Bear Stearns and Price Waterhouse.