Frank De Maria, an over-the-counter (OTC) derivatives industry leader, is joining the Depository Trust & Clearing Corporation as managing director, business development, effective 24 Sept.
De Maria will lead a cross-organizational team with responsibility for DTCC Deriv/SERV’s Trade Information Warehouse, including design enhancements, industry take-up and support for all derivatives asset classes that will be serviced by the Warehouse. He will report to Peter Axilrod, DTCC managing director, business development.
“DTCC is fortunate to have someone with Frank’s talent and experience to lead the continued expansion of the market’s first and only automated repository for OTC derivatives, supporting these contracts over their lifecycles,” says Michael Bodson, DTCC executive managing director, business management, strategy and marketing. “Frank has broad expertise in the derivatives market and understands the pressures our customers face to reduce their costs and risks with these investment instruments.”
Prior to joining DTCC, De Maria was global head of Derivative Client Services & Operations at Merrill Lynch, where he led a worldwide staff of financial derivative operations and client service professionals, including the firm’s reengineering efforts in that space.
Before he joined Merrill Lynch in 2001, De Maria was COO of Soros Private Funds Management. In 1999 he served as CFO of Oversight Partner I, the consortium entity that recapitalized and liquidated Long-Term Capital Management. De Maria also held a variety of positions in finance and operations at Bankers Trust, worked at the Federal Reserve Bank of New York and in institutional sales.