The Depository Trust & Clearing Corporation (DTCC) announced today the appointment of Daniel G. Faryniarz, a banking industry veteran with expertise in fixed-income and derivatives sales, to the newly created position of managing director, Market Structure and Industry Relations, effective April 6, 2009.
In this new position, Faryniarz will help lead DTCC's efforts to identify and develop new market opportunities in the front-office and trading communities.
Faryniarz joins DTCC from Merrill Lynch, where since 2004 he served in that firm's Global Rate Sales division, initially as vice president and later promoted to director. Faryniarz's more than 20 years of experience include positions at Commerzbank Securities, Greenwich Capital Markets, NatWest Capital Markets and Lehman Brothers.
"Danny comes to DTCC at a time of great change and opportunity for the industry and our customers. He is joining a team that will guide DTCC's strategic direction through outreach to new clients and to new areas at existing client firms, where demand is growing for automated post-trade solutions," said Michael C. Bodson, DTCC executive managing director, Business Management and Strategy. "Danny's broad and deep knowledge of customers and their needs, and his understanding of complex derivative products will be an important asset for DTCC as we continue to broaden the markets we serve."
Faryniarz will report to James P. Leonard, managing director, Strategy and Marketing.
At Merrill Lynch, Faryniarz was responsible for a product mix across cash, derivatives, futures and repo. Prior to Merrill Lynch, Faryniarz served as director, Freight Derivative Products, at Odin Marine Ship Brokers, where he set up the firm's freight derivative desk and marketed freight derivatives to customers for hedging and proprietary trading purposes.
Faryniarz's extensive experience in global fixed-income and OTC sales also includes service at the vice president level at Commerzbank Securities in New York from 1999 through 2001, Greenwich Capital Markets in Greenwich, Connecticut, from 1997 to 1999, NatWest Capital Markets in London from 1993 to 1997, and Lehman Brothers in Boston from 1988 to 1993. He was a mutual fund administrator at First National Bank of Boston from 1986 to 1988.
Faryniarz holds a Bachelor of Arts degree in political science from University of Vermont.