The Depository Trust & Clearing Corp. has named Douglas J. George managing director and chief risk officer, a new position at the organization.
In this role, he will lead enterprise risk management, including the oversight of credit and market risk associated with all of DTCC’s subsidiaries. He will also oversee the planning of new technology to support enterprise-wide risk analysis.
A 30-year veteran of risk management, payment systems and securities settlement and clearing operations, he most recently was managing director and head of payment systems risk management for Citigroup, a position he has held since 1996.
“Last year, DTCC settled in excess of $1.5 quadrillion worth of securities transactions,” said Donald F. Donahue, chairman and CEO. “Understanding and managing the risks associated with the scope and breadth of the customers and financial products we support across our subsidiaries is a critical component of what we do for the financial services industry.”