DTCC expands board of directors 31 March 2020New York Reporter: Maddie Saghir
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DTCC has added Deborah Cunningham and Craig Messinger to its board of directors.
Cunningham, who has more than 30 years of investment experience, is a chief investment officer of global liquidity markets at Federated Hermes, where she joined in 1981 as a performance analyst.
Since 1990 she has been a portfolio manager for all government and prime liquidity products. Cunningham oversees the management of the domestic tax-exempt liquidity portfolios as well as the offshore liquidity products, in addition to the domestic taxable liquidity portfolios.
Messinger has been in the financial services for 40 years and currently serves on the executive management team and is vice chair at Virtu Financial. He is also the CEO of Virtu Americas, one of Virtu’s FINRA registered broker-dealers.
Before Virtu, Messinger was executive vice president and global head of trading and risk management at BNY Mellon and a member of the bank’s operating committee and the global markets executive committee.
Robert Druskin, non-executive chairperson of DTCC’s board, said: “We are pleased to welcome Deborah Cunningham and Craig Messinger to the board of directors. They bring decades of experience in financial services and deep hands-on knowledge of post-trade processing to the board, which will be invaluable as we focus on new opportunities to advance the mission of DTCC. We look forward to their insights, partnership and contributions in the years ahead.”
The DTCC board consists of 21 directors, of which 14 are participant directors who represent clearing agency members, including international broker/dealers, custodian and clearing banks, and investment institutions; three are non-participant directors; two directors are designated by DTCC's preferred shareholders, ICE and FINRA; and the remaining two are DTCC's non-executive chairperson and its president and CEO.
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