The Depository Trust & Clearing Corporation (DTCC) has named Mark Davies as vice president of Data Business Development, focusing on DTCCs involvement in the Legal Entity Identifier (LEI) program in Europe.
The LEI program started with regulators in the United States but quickly morphed into a global program designed to create and assign unique identifiers to every financial organization that engages in a financial transaction. LEIs include a unique code along with the legal name of the corporate entity, its street address, city, state country and other basic details. The purpose of LEIs is to create a standard way for organizations around the globe to identify corporate entities. The first set of LEI codes was released earlier this month by the Global Financial Markets Association.
DTCC acts as the proposed facilities manager for project, giving the organization responsibility for gathering, validating, storing and distributing various data on each legal entity. The International Organization for Standards (ISO), SWIFT and the Association of National Numbering Agencies (ANNA) also play a part in the LEI process.
Davies will be based in London and will be responsible for strategy and liaison activities in Europe regarding the LEI project. He will participate in the development of a distribution strategy, serving as a subject matter expert on the LEI business with regulators and industry committees and representing DTCC in customer meetings, customer forums and regulatory meetings, the firm says. He will report directly to Ronald Jordan, DTCCs New York-based managing director and chief data officer.
We are delighted to have someone with Marks expertise and experience join DTCC to assist in this critical international effort, Jordan says. Not only does Mark have a long history of working with data management services, he has played a critical role on the industrys LEI Steering Committee representing the Royal Bank of Scotland in developing the requirements for the LEI project, and we know he will continue to provide continued leadership in his new role with DTCC.
Davies joins DTCC from the Royal Bank of Scotland (RBS), where from 2008 he served as head of Reference Data within Shared Services Finance. Previously, he served as the associate director for Shared Data Services at Barclays Capital from 2000 to 2008, managing the groups central counterparty database. He was also manager of the Client Reference Data Division and supervisor for the strategic projects team for Credit Suisse First Boston from 1998 until 2000.
(CG)