The Depository Trust & Clearing Corporation (DTCC) has named managing director and deputy general counsel Ann Shuman its new general counsel. Her new responsibilities include advising the board and senior management on legal and regulatory matters. Ms. Shuman joins the management committee while continuing to oversee the global legal team.
“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,” DTCC president and CEO Michael Bodson said.
Ms. Shuman takes over from Larry Thompson, who will now serve full-time as vice chairman after originally being appointed to the post in 2015. Mr. Thompson directs public policy engagement with global lawmakers and regulators and serves as senior advisor and chief spokesperson. He has been with DTCC since 1981.
“Over the past several years, 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 Deriv/SERV board of directors,” Mr. Bodson said. “As we expect to continue facing regulatory scrutiny in the coming years as well as the potential for new legislation and further regulatory developments, Larry will focus on these issues to protect our interests and promote DTCC’s critical role in reducing risk for the industry.”