Omgeo CEO Adam Bryan is to join the senior management team at DTCC, the American user-owned, user-governed CSD that owns the Omgeo central matching business jointly with Thomson.
Joining the DTCC is an unlikely switch of roles and culture for Bryan, who worked at the ruthlessly commercial Thomson Financial before taking the helm at Omgeo five years ago.
But, having taken Omgeo to its present position of strength, Bryan was understood to be exploring his next career move, including a switch to leading securities efforts at SWIFT – the job that was eventually taken by Jim Donovan.
The fact that Bryan has opted to move out of Thomson, where he was long regarded as a rising star, will surprise many and disappoint Thomson Financial President and CEO Sharon Rowlands.
There is also a view, within Thomson as well as the DTCC, that the future success of Omgeo depends on adopting full utility status, especially if it is to expand its business in Europe. That could mean a deal with SWIFT, though the Brussels-based messaging utility has traditionally found it hard to commit to deals.
Marianne Brown will succeed Bryan as Omgeo CEO when he makes the switch to DTCC in January 2007. Brown previously served as chief executive of the Securities Industry Automation Corporation (SIAC), a subsidiary of the New York Stock Exchange and the American Stock Exchange.
Prior to joining SIAC, Brown was with ADP Brokerage Services Group, a division of Automatic Data Processing, serving most recently as general manager of ADP’s Brokerage Processing Services group, so she has a commercial background too.
Omgeo chairman Richard Macek remains in place.
At DTCC, Bryan will become managing director for customer satisfaction and service, reporting to Bill Aimetti, DTCC’s chief operating officer. With DTCC Chairman and CEO Jill Considine having handed the CEO post to Don Donohue in June this year, the 42-year-old Bryan will be regarded as a long term candidate to lead the DTCC, especially if the American CSD remains serious about achieving its ambition to play a major role in clearing and settlement in Europe.
Before taking charge at Omgeo, Bryan was chief operating officer of the Investment Management group (formerly the Broker/Fund Management group) at Thomson Financial. Prior to that, he was COO of Thomson Financial ESG.