The Depository Trust & Clearing Corporation (DTCC) has named Douglas J. George to the new position of managing director and chief risk officer.
In his new post, George will lead DTCC’s Enterprise Risk Management (ERM) efforts, including the management of credit and market risk associated with all DTCC subsidiaries’ clearing, settlement and depository activities, assessing operational and strategic risk issues for DTCC and its growing involvement in the delivery of global services.
He also will oversee the planning of new technology to support enterprise-wide risk analysis and the development of new strategies to mitigate risk for DTCC and its member firms.
Most recently, George has served as managing director and head of Payment Systems Risk Management for Citigroup, Inc., a position he’s held since 1996.
“At this critical juncture for DTCC, we’re thrilled to have someone as eminently qualified and with the broad global experience that Doug George is bringing to DTCC,” said Donald F. Donahue, DTCC’s chairman and CEO. “While DTCC subsidiaries have a terrific track record in managing risk over the past 30-plus years, that success has been based on our ability to anticipate and plan for change. Doug George will bring a new level of leadership and experience at a time when our business activities are becoming more complex and we’re expanding the range of global services we offer.”
Donahue replaces Jill Considine, who will continue to serve as a senior adviser for DTCC.