DTCC appoints new general counsel

Ann Shuman

The Depository Trust & Clearing Corporation (DTCC) has promoted Ann Shuman to general counsel, effective February 1. She is based in Jersey City, New Jersey.

Shuman was previously managing director and deputy general counsel at the post-trade market infrastructure organization. She took over the general counsel post from Larry Thompson, who stepped down to serve full time as DTCC’s vice chairman.

In that role, to which he was appointed in 2015, Thompson continues to lead DTCC’s public policy engagement with key regulators and lawmakers globally, serve as a senior adviser to the firm and act as a chief spokesperson, according to a statement.

As general counsel, Shuman is responsible for advising senior management and the DTCC board of directors on legal and regulatory matters. She also joins the firm’s management committee and continues to oversee its global legal team.

She joined DTCC in January 2014, having previously served as managing director and deputy general counsel of CME Group. Before joining CME in 2000, she was an attorney at Sidley Austin in Chicago.

‘Over the years, Ann has distinguished herself for her sharp legal mind, her deep understanding of the complexities and nuances of financial market infrastructures, and her collaborative approach to managing significant legal matters,’ says Michael Bodson, president and CEO of DTCC.

‘Larry has been devoting an increasing amount of his time to building relationships with policymakers globally and raising awareness of the firm and our capabilities in addition to his responsibilities as general counsel and chairman of the DTCC Deriv/SERV board of directors. As we expect to continue facing regulatory scrutiny in the coming years, as well as the potential for new legislation and further regulatory developments, he will focus on these issues to protect our interests and promote DTCC’s critical role in reducing risk for the industry.’

DTCC, through its subsidiaries, automates, centralizes and standardizes the post-trade processing of financial transactions, with the aim of mitigating risk, increasing transparency and improving efficiency for broker-dealers, custodian banks and asset managers.