DTCC appoints general manager equity clearing

The Depository Trust and Clearing Corporation (DTCC) has appointed Michael McClain as managing director and general manager of equity clearing. He will be responsible for leading day-to-day equity clearing business operations and strategic initiatives. He will report to Murray Pozmanter, managing director and head of clearing agency services.

Michael joints DTCC from the Options Clearing Corporation (OCC), the world’s largest equity derivatives clearing organization, where he served as chief operating officer and was part of the office of the executive chairman.