The Depository Trust & Clearing Corporation has hired Andrew Douglas to lead its public affairs efforts in Europe.
Douglas will play a key role in representing DTCC’s public policy positions to officials of the European Union and its member states.
He will also represent DTCC in dealings with other European organisations, such as regulators, central banks and industry associations.
Douglas will be responsible for communicating DTCC’s European policy agenda and for building upon existing relationships with key individuals and groups in the public policy-making process.
In addition, he will represent DTCC at relevant forums, advise senior management on pending legislation and policy issues and provide input to DTCC line business managers about European issues relevant to their products.
He will be based in London and will report locally to Diana Chan, chief executive of EuroCCP, in her capacity as head of the DTCC London operating committee. He will report functionally to Larry Thompson, DTCC general counsel, in New York.
Douglas is joining DTCC from the Society for Worldwide Interbank Financial Telecommunication, where he most recently served as head of that Belgium-based cooperative’s securities research and development team.
During his tenure at Swift, Douglas was instrumental in developing the “Giovannini protocol,” which harmonised communication standards among equity post-trade infrastructures in Europe. He was also responsible for the research and development of new business solutions for diverse sectors of the finance services industry, including insurance, Islamic banking and carbon trading.
“Andrew brings more than 20 years of experience in the global securities industry and has established close working relationships with European governmental, regulatory and institutional communities,” says Donald F. Donahue (pictured), DTCC chairman and chief executive. “With Europe becoming more and more of a focus of DTCC’s business activities, we are delighted to have Andrew’s vast wealth of experience as we look to work and collaborate with the broad constituencies in the European market.”