Sharon Biran

DTCC, the premier post-trade market infrastructure for the global financial services industry, has announced the appointment of Sharon Biran as Managing Director and Chief Client Officer, effective March 25. Ms. Biran joins the DTCC Executive Committee and will report to Francis J. La Salla, President, Chief Executive Officer and Director. Ms. Biran succeeds Timothy Keady, who announced he will leave the firm at the end of March.

As Chief Client Officer, Ms. Biran will lead the firm’s global client management and engagement strategy, including sales, relationship management, partners, and marketing and communications. She will also lead DTCC’s Consulting Services business. Ms. Biran brings more than 25 years of senior leadership experience in financial services overseeing strategic client relationships, managing complex global transformation programs and leading large-scale change initiatives aimed at improving operational resilience and organizational effectiveness.

Ms. Biran joins DTCC from Accenture where she served from 2017 as Managing Director and Global Account Leader, which entailed leading some of Accenture’s largest and most complex banking and capital markets client relationships. Prior to her combined 13 years with Accenture, Ms. Biran spent 15 years with UBS and JPMorgan Chase in a variety of executive roles, which included leading regulatory change programs and driving technology and operations transformation efforts.

Mr. La Salla said, “We’re pleased to have a seasoned executive like Sharon joining DTCC at this critical juncture in our history. Sharon’s deep experience in financial services, senior stakeholder engagement and operational resilience will help us advance our strategy, elevate how we deliver new capabilities and position us as a strategic partner to our global clients and the industry. We thank Tim for his contributions and wish him the very best in his future endeavors.”

Ms. Biran said, “I’m honored to join DTCC and excited to contribute to its mission of enhancing the stability and efficiency of the global financial markets. I look forward to working with the talented team at DTCC and leveraging my experience to further strengthen client relationships, drive innovation and deliver a world-class client experience.”

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Susan Cosgrove, who has served as DTCC’s Chief Financial Officer since 2013, has been named President, Clearing & Securities Services. In this role, Ms. Cosgrove will lead all equity and fixed income clearance and settlement, asset servicing and underwriting, wealth management and institutional trade processing businesses for DTCC. With this appointment, she also becomes Chair of the ITP Board of Managers. Ms. Cosgrove brings a wealth of business and financial experience to this role, having led Settlement & Asset Services and Equity & Fixed Income Clearing Services prior to being appointed Chief Financial Officer. Ms. Cosgrove assumes responsibility for the core clearance, settlement, asset servicing and wealth management businesses from Murray Pozmanter, who announced that he will retire from DTCC on April 14.

Timothy Keady has been appointed Chief Client Officer. In this capacity, Mr. Keady will have responsibility for leading DTCC’s global sales, relationship management, partners and marketing and communications functions, driving the firm’s client strategy across all DTCC products and services. He will also drive the growth of the repository and derivatives services, consulting and data services businesses globally. Additionally, DTCC will nominate Mr. Keady to serve again as Chair of the DTCC Deriv/SERV LLC Board of Directors and the boards of DTCC Data Repository (U.S.) LLC; DTCC Derivatives Repository Plc; and DTCC Data Repository (Ireland) Plc.

Renee LaRoche-Morris joins DTCC as Chief Financial Officer. In this capacity, Ms. LaRoche-Morris will lead DTCC’s global finance, treasury, strategic sourcing, real estate, corporate services, program management and new initiatives oversight functions. She joins the company from State Street, bringing more than 20 years of financial services experience including in finance, strategy, operations and business management. Since 2021, Ms. LaRoche-Morris held multiple roles at State Street, including Chief of Staff to the Chief Operating Officer and Chief Administrative Officer of Shared Services. She then transitioned to head the Integration Management Office for State Street’s acquisition of the Investor Services business of Brown Brothers Harriman. Prior to State Street, Ms. LaRoche-Morris was a Managing Director at BNY Mellon, where she held several roles including Chief Operating Officer of Investment Management, Interim Chief Financial Officer of Investment Management and Chief Financial Officer of Wealth Management. Ms. LaRoche-Morris also held strategy, operations and finance roles at Pershing LLC, the broker-dealer subsidiary of BNY Mellon, and at Deloitte Consulting.

Mr. La Salla said, “We are very pleased to welcome Renee to DTCC and congratulate Susan and Tim on their appointments. We are fortunate to have these talented and experienced industry leaders serve in these key positions to advance critical initiatives that protect the safety and stability of the global financial markets while creating new opportunities for our clients to grow and achieve optimum performance.”

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