-Donald F. Donahue (DTCC) Joins Omgeo as New Chairman and Cynthia Meyn (Pimco) as New Board Member
Omgeo, the global standard for post-trade efficiency, welcomes Donald F. Donahue, chairman and ceo of the Depository Trust & Clearing Corporation (DTCC), as the new chairman of its Board of Managers. Richard R. Macek, former executive managing director Risk and Finance for DTCC, who has served as chairman of Omgeo’s Board of Managers since December 2004, retires from his position, having played a key role in Omgeo’s successful evolution from a young joint venture to market leader in the post-trade space.
Cynthia Meyn, senior vice president and senior operations manager of Pimco, joins the Omgeo Board to replace Jacques-Philippe M. Marson, former president and chief executive officer, BNP Paribas Securities Services. Markus H. Ruetimann of Schroder Investment Management Limited, is leaving the Omgeo board, where he served as member since 2003, having contributed to an important phase in Omgeo’s development.
Omgeo’s Global Board is made up of 11 broadly representative members of the financial industry, who play a vital part in the ongoing governance and industry oversight of the organization. The Board is responsible for representing the interests of all Omgeo’s client base around the world on a wide range of issues relating to strategy, governance, risk management and operations.
“I am delighted to welcome Don and Cynthia to Omgeo’s board of managers and am excited about the wealth of knowledge my esteemed colleagues bring,” said Marianne Brown, ceo of Omgeo. “Don’s extensive financial services background and current role at the DTCC position him extremely well as our new chairman. Cynthia’s deep pool of expertise in the derivatives space will help Omgeo validate and shape its strategic direction, especially since derivatives processing and counterparty risk management will remain key issues for our industry in 2010.”
“Rick Macek, Jacques-Philippe Marson and Markus Ruetimann will be thoroughly missed. In particular, I am extremely grateful for Rick’s contribution to Omgeo’s success and would like to thank him personally for the valued guidance and support over the past few years,” added Marianne Brown.
“Omgeo is uniquely positioned in the world to link counterparties, automate an extended range of trade life cycle events and help mitigate risk between trade counterparties,” said Don Donahue, “I am very committed to the essential work Omgeo is doing and the enormous benefits it is bringing to the industry globally.”
