The Depository Trust & Clearing Corporation has announced the appointment of Lynn Bishop as chief information officer (CIO), effective immediately. In this role, Bishop is responsible for the ongoing development and testing of all the technology that supports DTCC’s post-trade infrastructure, communications networks, processing and messaging systems, as well as the IT applications underlying DTCC’s broad range of products and services. She is a member of the firm’s Management Committee and now reports directly to DTCC’s CEO, Michael Bodson.
Prior to this appointment, Bishop served as DTCC’s chief development officer and, before that, was chief technology officer. During her nearly 15 years at DTCC, the firm says Bishop has been a driving force behind several strategic IT initiatives, including expanding and re-platforming the underlying IT infrastructure for the Global Trade Repository service, developing enhancements to improve settlement finality and transparency in the settlement of money market transactions and overseeing the transition to a T+2 settlement cycle in the US. It adds she has also been instrumental in guiding DTCC technology decisions around the adoption of emerging technologies, including DLT, cloud, robotics, machine learning and AI.
Bishop was also recently appointed as DTCC’s senior sponsor of Girls Who Code, a national non-profit organization working to close the gender gap in technology, and actively supports DTCC’s D&I efforts, including programs and initiatives that are helping to develop emerging talent and women in technology.
“We are pleased to appoint Lynn as our new CIO at a critical time when emerging technology is reshaping how the financial markets operate,” said Bodson. “Lynn’s reputation for having deep insights on a wide range of technology issues, a natural ability to problem solve complex IT challenges and a collaborative approach will be important as we continue to rearchitect our systems and assess and adopt new technologies to continue to enhance how we serve our clients and protect the industry.”
Bishop replaces Bob Garrison, who plans to retire in February 2020 after nine years with DTCC, the past eight as CIO. “Under Bob’s leadership, DTCC has increased the stability and resiliency of our technology platforms, and we have made significant progress in modernising our IT infrastructure,” says Bodson. “On behalf of the Board and Management Committee, we thank Bob for his dedication and service to DTCC and our clients, and wish him health, happiness and luck on his upcoming retirement.”