Hitchon was elected to the board replacing Robert Kaplan of State Street Bank and Trust, whose term had expired. All other members of the board were reelected, except for William Aimetti, DTCC's president, who retired.

Hitchon has been co-head of Deutsche Bank's Global Prime Finance business since 2005. The business encompasses all of Deutsche Bank's prime brokerage, synthetic finance, structure equity finance, hedge fund consulting and securities lending. Hitchon is also responsible for all Global Listed Derivatives. Hitchon has also taken on the recent responsibility of running DB Global Listed Derivatives platform.

Before that, Hitchon was chief operating officer of Equity proprietary trading and DB Advisors, and was co-head of Equity prime services from 2001, when Equity prime services was created, until 2003. Prior to that, Hitchon held a number of senior roles in the equities area of Deutsche Bank, including Equities Derivatives chief operating officer and Equities chief administrative officer.

Hitchon joined Deutsche Bank in early 1998 as part of the acquisition of Equity Derivatives from National Westminster Bank (NatWest). At NatWest, he held a number of senior capital market roles, his last position being chief financial officer for Equities NA.

Hitchon is a fellow of the Chartered Association of Certified Accountants and graduated from Sheffield University in the U.K. with a bachelor's of science degree in Chemical Engineering and Fuel Technology.