DTCC adds four senior industry execs to board

Source: DTCC

DTCC, the premier post-trade market infrastructure for the global financial services industry, today announced that four new Board Members have joined its Board of Directors.

The Board plays a critical role in setting the strategic direction of DTCC, working closely with the firm's leadership and advising on topics including risk management, regulatory matters, the development of new products and services, emerging fintech and more.

The new Directors are Brian Gallagher of JPMorgan Chase, Christopher Gelvin of UBS, Jon Herrick of the New York Stock Exchange and Igor Modlin of Goldman Sachs.

Brian Gallagher serves as Global Head of Markets Operations at JPMorgan Chase. Gallagher leads a global team that is responsible for all aspects of operational support for the Markets Sales and Trading businesses. Gallagher has worked at JPMorgan Chase for 23 years, holding various roles and leadership positions at the firm.

Christopher Gelvin serves as Group Operations and Technology Office (GOTO) Chief Operating Officer at UBS. Gelvin is responsible for strategic planning and operating management for GOTO, data governance and the technology investment portfolio across the firm.
He has been with UBS for nearly 20 years, holding several leadership roles in Operations and Technology.

Jon Herrick serves as Chief Product Officer at the NYSE, a part of Intercontinental Exchange, where he is responsible for product development and innovation across all areas of the exchange business. In his role, he oversees the NYSE’s transactions and market data businesses, driving competitive strategy and distribution. Previously, Jon served as Head of Markets at the NYSE, overseeing the exchange’s equities and options businesses.

Igor Modlin serves as Global Head of Prime Services Product Development at Goldman Sachs, where he is responsible for
Prime Services’ front to back efforts. He is also a member of the U.S. Client Assets Steering Committee. Modlin joined Goldman Sachs in 2005 and was named managing director in 2010 and partner in 2018.

“We are pleased to welcome Brian, Christopher, Jon and Igor to the Board of Directors,” said Kevin M. Kessinger, Non-Executive Chairman of DTCC’s Board. “They bring extensive leadership skills, deep subject matter expertise and diverse experiences in financial services to the Board at a time when the industry is looking to DTCC for enhanced support. As our company takes on a larger role leading change through innovation, we look forward to their guidance, insights and contributions.”

The DTCC Board of Directors is currently composed of 22 Directors. Of these, 13 are participant Directors who represent clearing agency members, including international broker/dealers, custodian and clearing banks and investment institutions; five are non-participant Directors; two Directors are designated by DTCC's preferred shareholders, NYSE/ICE and FINRA; and the remaining two Board members are DTCC's Non-Executive Chairman and its President and Chief Executive Officer.

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