The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced the appointment of Stephen Scharf to the newly-created position of Chief Security Officer (CSO).
The appointment will centralize and align the firm’s global information security, physical security, employee safety, and crisis/incident management functions, ensuring a comprehensive and holistic approach to risk management and resilience across the organization.
Mr. Scharf joins DTCC from Experian where he served as Global Chief Information Security Officer, accountable for the overall strategy, leadership and governance of Experian’s global information security, physical security and business continuity programs. Experian is a global information services group with operations in 40 countries and 17,000 employees. Principal lines of business include credit services, marketing services, decision analytics and consumer services. Prior to his role with Experian, Mr. Scharf served as the Global Chief Security Officer for Bloomberg LP, and has previously held a number of positions in information security and technology firms.
“Stephen brings to DTCC over twenty years of experience in Information Technology, with a fifteen year concentration in Information Security,” stated Andrew Gray, Managing Director, Group Chief Risk Officer at DTCC. “Risk management remains a top priority across the industry, and we look forward to Stephen’s contributions as we continue to protect DTCC and the global markets.”
Added Stephen Scharf, DTCC’s newly appointed Chief Security Officer, “Financial services remains one of the most heavily targeted industries. To continue safeguarding our industry from threats, we must remain vigilant and focused. I look forward to continuing to build on DTCC’s excellent work to protect market stability and confidence.”
With this appointment, Mark Clancy steps down as DTCC’s Chief Information Security Officer to assume his current full-time position as Chief Executive Officer of Soltra, a DTCC & FS-ISAC joint venture that provides an automated cyber threat intelligence platform.
Contributed | what does this mean?