People in the News
February 26, 2007
Depository Trust & Clearing Corp. (DTCC) has named
Michael C. Bodson to the newly created position of
executive managing director for business management and strategy,
effective March 1. Reporting to president and CEO Donald F.
Donahue, he will be responsible for bringing the product management
of all DTCC business lines, strategic planning, relationship
management and marketing together under a single umbrella. The role
includes oversight of DTCC's core clearance and settlement
businesses for equities and fixed income, the custody and asset
servicing businesses, the processing support it provides to the
mutual funds and insurance companies sectors, as well as its
post-trade over-the-counter derivatives processing. The
organization wants to instill a more rigorous business process
management approach for a marketplace in which "customer
expectations are accelerating at almost warp speed" internationally
and across asset classes, stated Donahue. Bodson, 49, who spent
more than 20 years with Morgan Stanley and served on the DTCC
board, brings "broad industry knowledge, strong management skills
and years of experience working in Asia [that] will bring
tremendous advantages to DTCC as we are challenged to anticipate
and develop new infrastructure services more rapidly than ever
before while extending our reach globally."Bodson was most recently managing director and global head of operations, responsible for supporting Morgan Stanley's institutional, retail and asset management groups. Bodson was previously global head of the institutional securities operations group, supporting all equity, fixed-income and commodities products, and had responsibility for operational risk, business continuity planning and information security. Before that, he was divisional operations officer for the institutional securities group and head of the enterprise information group. In the mid-1990s, he served as head of finance, administration and operations for Morgan Stanley Japan, after holding a similar position in Hong Kong. Donahue praised Bodson as "an enormously talented and respected leader," adding, "There's a whole new level of innovation required of us, and a much shorter time period for us to develop the kinds of capabilities the industry needs. ... Like our customers, we'll have to gear up for business 24-7, not just in this market, but in markets and time zones throughout the world."
HedgeStreet,
an online marketplace for trading financial instruments based on
the outcomes of economic events, has brought in Peter
Rosenstreich as financial market strategist. Based in the
San Mateo, Calif. company's New York office, the 34 year old will
contribute market commentary and lead Web seminars and other
educational events while concentrating on expanding HedgeStreet's
foreign exchange and derivatives products. HedgeStreet, which has
been operating under Commodity Futures Trading Commission
supervision since 2004, "is an exciting new concept, allowing
ordinary people easy access to the foreign exchange and interest
rate markets," said Rosenstreich, who is author of the Financial
Times Prentice Hall book "Forex Revolution: An Insider's Guide to
the Real World of Foreign Exchange Trading." He added: "I'm
delighted to be joining such a dynamic new marketplace and to be
helping its traders become familiar with HedgeStreet's products.
... HedgeStreet's FX contracts add a whole new dimension to current
trading strategies. They are unique instruments that allow ordinary
investors to effectively segment market risk."
Rosenstreich was previously affiliated with Saxo Bank of Copenhagen, which is noted for its Web-based forex trading technology. He has also been a marketing and portfolio manager for financial planning group Rose Stevons & Co./Myles Financial. During the 1990s he was an associate in global corporate finance with Arthur Andersen Business Advisory in Thailand. He holds a BA in history from Clark University and an MBA from the City University of New York's Zicklin School of Business.
