The Securities Industry Association (SIA) has appointed Richard Bommer as assistant vice president and director of operations. In addition to serving as staff adviser to the association’s Operations, Cross Border, and Clearing Firms Committees, Bommer will oversee SIA’s operations conferences and coordinate SIA’s involvement in industrywide operations initiatives.
Bommer, 42, graduated from Daemen College (Amherst, N.Y.) with a degree in Business Management. He began his career at Dean Witter Reynolds in 1985, where he was a manager in the Retirement Plan Operations Division.
His experience at Dean Witter included managing the Qualified Plans Department and the Account Transfer Department, and his responsibilities included overseeing limited partnership and mutual fund processing. He joined National Financial Services in 1997 as a manager in the Account Transfer Department. He most recently was the manager of the International Operations Department at NFS. Bommer was also a member of SIA’s Customer Account Transfer Division from 1996-2002, serving as president from 2000-2001.
He will report to Vice President and Managing Director, Systems and Technology John Panchery. “Richard’s broad-based experience, which includes dealing with clearance and settlement of international transactions, will help SIA as we continue to work with our member firms to ensure that our markets remain at the cutting edge of technology,” said Panchery. “He will play a significant role in SIA’s management of industrywide operational projects.” SIA leads industrywide initiatives geared to achieving straight-through processing and enhancing the industry’s business continuity plans.
He replaces Tom Monahan, who retires effective June 30 after 13 years at SIA and a 38-year career on Wall Street.