The Depository Trust & Clearing Corporation (DTCC) announced today that John C. Ziambras has joined its Insurance Services group as vice president of sales. Ziambras comes to DTCC from Prudential Select Brokerage, a division of the Prudential Insurance Company of America, where he was vice president of National Accounts. By appointing a former leader of the Prudential sales and marketing efforts among general agents and producer groups, who was also charged with expanding third-party distribution channels, the DTCC has confirmed the seriousness of its plan to revolutionise the operational side of the US insurance business. At DTCC Ziambras will manage and expand sales efforts in the broker/dealer, banking and insurance carrier communities.
The Insurance Services arm of DTCC provides an automated, centralized system that electronically links insurance carriers with broker/dealers, banks and financial planners for the sale and support of insurance products. Its aim is to streamline the insurance industry by providing its distributors with comparable levels of connectivity and efficiency in processing to those DTCC has achieved in stocks and bonds (via its central platform) and mutual funds (via Fund/SERV).
“Insurance Services at DTCC is poised for rapid growth,” says J. Randall
Grespin, managing director of Distribution Services at DTCC. “Our client list is growing and the number of broker/dealers and insurance carriers connected by our processing services has increased dramatically. John’s extensive experience in insurance and his broad knowledge of the industry, coupled with his marketing and sales skills, will help
Insurance Services continue this momentum by expanding its client list
and anticipating and meeting the needs of the industry.”
Prior to joining Prudential, Ziambras was with KPMG Peat Marwick LLP, where he was manager of the National Insurance Consulting Practice, providing fee-based specialized insurance consulting services to large public and private companies as well as to high-net-worth individuals. He also worked at Northwestern Mutual Life and New York Life as a financial and insurance planner and sales manager. He will report to Grespin. Ziambras is a graduate of Princeton University.
In 2001, DTCC’s Insurance Services provided more than $3.3 billion in money settlement, handled more than 320 million insurance positions records and more than 51 million pricing records. The group currently services 159 firms including 83 insurance carriers and 76 distributors and service providers, and supports more than 1,009 trading relationships.