Noel Donohoe is DTCC’s group chief risk officer

New York, June 28, 2011 – The Depository Trust & Clearing Corporation (DTCC) today announced that it has named Noel Donohoe to a newly created position as Executive Managing Director and Group Chief Risk Officer.

A financial services industry leader in global risk management, Donohoe will join DTCC in August, with responsibility for formulating and implementing DTCC’s overall risk management strategy in collaboration with its senior management team.

Donohoe will oversee the organization’s Enterprise Risk Management, Operational Risk Management and Systemic Risk teams. He is charged with ensuring that DTCC’s comprehensive risk management initiatives are fully integrated into its overall organizational efforts. Donohoe will also serve as a member of DTCC’s Management Committee and act as the principal advisor to the Board and to its Risk Committee on all risk matters. He will report to Robert Druskin, DTCC Executive Chairman and to DTCC’s Board Risk Committee.

“Noel brings impressive experience and leadership credentials to this important senior management position,” said Druskin. “We are thrilled to have Noel join us at this crucial point in time when so much change is taking place in the world’s financial infrastructure. The expertise he’s gained from more than 20 years of effectively managing risk for several of the financial industry’s largest financial institutions will be of great benefit to our customers, our regulators and our employees.”

Donohoe was most recently managing director, Global Head of Product Control, Credit Suisse. There he led efforts to build the organization’s product control process globally, successfully creating an organizational structure, hiring key talent, and redesigning systems, processes and technology. In this role, he was a member of Credit Suisse’s equity, fixed income and operational risk committees and was responsible for interacting with regulators in the U.S. and worldwide on issues relating to risk and capital.

Prior to that, Donohoe was Co-Head, Global Risk, for Merrill Lynch where he had responsibility for Market, Credit and Operational Risk worldwide, reporting directly to the chairman and CEO prior to the organization’s merger with Bank of America.

From 2005 – 2008, he was Chief Operating Officer and partner of hedge fund management firm Dune Capital. There, he was responsible for risk, operations, finance and administration.

Donohoe spent more than 11 years at Goldman Sachs, serving from 2000-2005 as Head of Firm-wide Risk. Prior to being promoted to that position, he was Chief Operating Officer of firm wide risk from 1998 – 2000, leading the rebuilding of the firm’s risk process in advance of its IPO and helping establish Goldman Sachs as a thought leader in risk disciplines. He was also global head of product control and global head of fixed income product control during the first four years of his tenure at the firm.

“DTCC has a long-standing reputation for safeguarding the financial markets and its participants from systemic and operational risk, especially during times of crisis. The critical role the organization has played in ensuring the integrity of our financial system is unparalleled,” said Donohoe. “I am excited to be joining such a talented and dedicated team of professionals who recognize the importance of risk management as a core capability.”

Donohoe earned degrees in business and in professional accounting from the University College of Dublin and is a qualified Chartered Accountant. He resides in Armonk, New York.

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