Bodson to Chair Omgeo Board of Managers

Michael Bodson, president and CEO of The Depository Trust & Clearing Corporation (DTCC), is joining Omgeo’s Board of Managers as chairman.

Bodson assumes the role from Andrew Gray, managing director of Core Business Management at DTCC, who will remain a member of the Board. In addition, Joan Binstock, chief financial and operations officer at Lord Abbett & Co., joins as a member of the Board.

Following the announcement that DTCC has acquired full ownership of Omgeo, Tim Collier, CFO of Financial & Risk at Thomson Reuters, has completed his tenure on Omgeo’s Board to reflect this change in the company’s ownership structure.

The Board of Managers governs and oversees Omgeo and its product and service development.

As president and CEO of DTCC, Bodson is responsible for leading the development and execution of DTCC’s strategy as well as its principal operating subsidiaries, Depository Trust Company (DTC), Fixed Income Clearing Corporation (FICC) and National Securities Clearing Corporation (NSCC). He is also a member of DTCC’s Board.

At Lord Abbett, Binstock is responsible for financial and operational support, as well as oversight of the firm’s financial reporting, operations processing and account administration functions.

“As Chairman, Mike will play an active role in helping to align the long-term business strategies of Omgeo and DTCC,” said Marianne Brown, president and CEO of Omgeo. “Mike’s understanding of our vision, goals and priorities will be invaluable, and we very much welcome his continued involvement and insight.”

Binstock will help to guide Omgeo’s corporate strategy.

Omgeo’s global Board of Managers is currently made up of representative members of the financial industry.