DTCC hires Goldman Sachs veteran Brian Steele as President of Clearing & Securities Services
“We’re pleased to have a seasoned executive like Brian bring his expertise in clearance, settlement, middle office operations, digital transformation, and client engagement to DTCC to lead these critically important businesses.”
DTCC has announced the appointment of Brian Steele as Managing Director and President of Clearing & Securities Services, effective from October 2, 2023.
In this pivotal role, Brian Steele will assume leadership responsibilities for DTCC’s various Clearing and Securities Services businesses, spanning Equity Clearing and Settlement, Fixed Income Clearing, Wealth Management Services, Asset Services, and Institutional Trade Processing (ITP).
Brian Steele joins DTCC as industry moves to T+1 settlement
His appointment signifies a significant addition to DTCC’s leadership team, reinforcing the company’s commitment to innovation and client engagement at a time of a significant tectonic shift: T+1 settlement.
Brian Steele brings nearly two decades of extensive experience from Goldman Sachs to his new role at DTCC. His career at Goldman Sachs encompassed diverse senior-level positions, culminating in his most recent role as Managing Director of the Americas Client Coverage Group and Global Head of Client & Market Solutions.
Steele’s prior roles included leadership positions in operations-related functions such as Global Head of Market Structure Solutions, Global Head of Equities Execution Services and Settlements, Global Head of Digital Transformation for the Operations Division, and Global Head of Market Solutions for the Operations Division.
Expertise in clearance, settlement, middle office operations, digital transformation, and client engagement
As the President of Clearing & Securities Services at DTCC, Brian Steele will play a vital role in steering the direction of critical businesses that underpin the global financial services industry.
His purview will encompass enhancing market structure, introducing new products and capabilities to address industry challenges, safeguarding the stability of the global financial system, and offering support to clients navigating a dynamic environment. Steele’s in-depth understanding of client needs, focus on client experience, and strategic acumen, combined with his profound industry relationships, will enable him to lead key initiatives and drive innovation in the development and delivery of new solutions.
Frank La Salla, DTCC’s President, Chief Executive Officer, and Director, said: “We’re pleased to have a seasoned executive like Brian bring his expertise in clearance, settlement, middle office operations, digital transformation, and client engagement to DTCC to lead these critically important businesses.” La Salla emphasized Steele’s ability to strengthen market structure and develop solutions that address industry challenges.
Brian Steele himself shared his enthusiasm about joining DTCC, highlighting the organization’s trusted and respected position in the industry. He emphasized DTCC’s outstanding talent, expertise, and commitment to positive change in collaboration with industry colleagues and stakeholders.
