May 7, 2007
Depository Trust Names George Chief Risk Officer
The Depository Trust & Clearing Corp. has named Douglas J. George managing director and chief risk officer, a new position at the organization.
In this role, George will lead enterprise risk management, including the oversight of credit and market risk associated with all of DTCC's subsidiaries. He will also oversee the planning of new technology to support enterprise-wide risk analysis.
A 30-year veteran of risk management, payment systems and securities settlement and clearing operations, he most recently was managing director and head of payment systems risk management for Citigroup, a position he has held since 1996.
"Last year, DTCC settled in excess of $1.5 quadrillion worth of securities transactions," said Donald F. Donahue, chairman and CEO. "Understanding and managing the risks associated with the scope and breadth of the customers and financial products we support across our subsidiaries is a critical component of what we do for the financial services industry."
Wheeler Becomes Head Of Distribution at FAF
FAF Advisors, advisor of the First American family of mutual funds, has hired Frank Wheeler as its new head of distribution, in charge of retail, institutional and strategic sales, as well as key accounts, product development, marketing, communications and public relations. Wheeler will also serve on the firm's operating committee. In this role, he will expand distribution of the First American funds to third parties, including wirehouses, retail brokerage firms and financial advisory firms.
Jim Greenawalt, who previously held the position, passed away last July.
Jon Stevens, who had headed up product development, marketing, communications and public relations at FAF, will now oversee technology, operations and investment administration.
With 20 years of experience at financial services and packaged-goods companies, Wheeler was previously managing director and head of institutional marketing at Merrill Lynch Investment Managers. Before that, he was with the Van Kampen Funds unit of Morgan Stanley, Wachovia and Procter & Gamble.
"Frank's breadth of role addresses the challenges posed by a converging distribution landscape," said FAF Advisors Chief Executive Officer Tom Schreier.
Krentzman Back at Deloitte
Elizabeth Krentzman has rejoined Deloitte & Touche as a partner with the firm's enterprise risk services and audit subsidiary, from the Investment Company Institute, where she was general counsel. Krentzman will also serve as chief advisor to Deloitte's investment management industry regulatory consulting practice. The practice works with mutual fund, alternative investment and separately managed account firms, as well as their service providers and other subsidiaries.
While investment management regulatory issues will be Krentzman's primary focus, her considerable depth and breadth of experience in the industry will enable her to advise clients on other matters, as well.
Before joining the ICI, Krentzman spent seven years at Deloitte as head of its investment management industry regulatory consulting practice. Before that, she was with the Securities and Exchange Commission's division of investment management.
"It's wonderful to return to Deloitte's dynamic investment management practice," Krentzman said. "In a time where we have seen fundamental changes transforming the investment management sector, I am delighted to join a group of talented individuals and a team that is well-positioned to help clients overcome those challenges and meet their business objectives."
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