Walt Bettinger has notified the Board of Directors of the The Charles Schwab Corporation of his intention to retire as Chief Executive Officer effective December 31, 2024. Rick Wurster, President of Schwab since 2021, will be named President and CEO and will join the Schwab Board of Directors, effective January 1, 2025. Bettinger will continue to serve as Executive Co-Chairman of the Board of Directors, along with founder Charles R. Schwab. Bettinger has successfully led Schwab as CEO since late 2008.
Jacek Bugaj has been appointed Head of Product at Prometheum. With over two decades of experience in capital markets and fintech, Bugaj most recently served as Head of Macro Product Management at Two Sigma, where he led the creation of advanced financial systems supporting systematic and discretionary trading strategies. He also spent over eight years at IHS Markit and OSTTRA, where he designed and implemented financial infrastructure and workflows that supported a significant portion of global financial transactions.
The Securities and Exchange Commission (SEC) has announced that Gurbir S. Grewal, Director of the Division of Enforcement, will depart the agency, effective October 11, 2024. Upon his departure, Sanjay Wadhwa, the Division’s Deputy Director, will serve as Acting Director, and Sam Waldon, the Division’s Chief Counsel, will serve as Acting Deputy Director. Wadhwa has served as Deputy Director of the Enforcement Division since August 2021. Waldon has served as Chief Counsel for the Division of Enforcement since March 2022.
Trading Technologies International, a global capital markets technology platform provider, has created a Platform Services business unit, bringing together the company’s global Product Development and Services teams into a single group. Jason Shaffer has assumed the new role of Chief Platform Officer with responsibility for leading the newly integrated unit. Vasco Sousa, who has served as Chief Services Officer for nearly two years, helping develop the services team and processes, left TT at the end of September to pursue new opportunities.
State Street Corporation has appointed Vanessa Fernandes as head of Digital Asset Solutions. Fernandes, who will be based in New Jersey, will report directly to Donna Milrod, chief product officer at State Street. She has more than 25 years of financial services experience in technology and operations. Prior to joining State Street, Fernandes was Managing Director and Global Head of Digital Experience at BNY Mellon, where she developed a digital-first strategy to transform the bank’s products and platforms. She also held several senior leadership roles at Itaú Unibanco, including Chief Information Officer, Chief Technology Officer for Emerging Technologies, Global Head of Corporate Architecture, and Chief Executive Officer of Digital Assets.
The Depository Trust & Clearing Corporation (DTCC) has appointed Andrea Gibbons as Managing Director, Chief Human Resources Officer. Gibbons will join the DTCC Executive Committee and report to Francis (Frank) La Salla, DTCC’s President, Chief Executive Officer and Director. She replaces Anthony Portannese, who will serve as a strategic advisor to DTCC’s President and CEO, Frank La Salla, until he retires at the end of the year. Gibbons has served as a key member of DTCC’s HR leadership team for the past decade, where she consistently demonstrated the qualities of an enterprise leader and brought experience and a deep understanding of the firm’s organizational culture and values.
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