The Depository Trust & Clearing Corp. announced earlier this week that it has appointed former senior Secret Service agent Steven H. Carey as vice president of security.
In his new position, Carey will be responsible for overseeing internal security at DTCCs multiple locations, as well as establishing key relationships with government agencies and dealing with the U.S. financial markets and their infrastructure, according to a prepared statement. He will also serve as a member of DTCCs business continuity planning unit.
The position is not new, but had been vacant for a while. Carey said a vice president of security was needed due to the companys expansion to different locations, to ensure consistency, and to leverage relationships with law enforcement agencies.
DTCC, through its subsidiaries, is responsible for the clearance and settlement of trades in U.S. government securities and mortgage-backed securities, all of which amount to more than $3.5 trillion each day. Dealers in the municipal market report trade information to the Fixed Income Clearing Corp., a subsidiary of DTCC.
DTCC also provides clearance and settlement services for virtually all trades done on the New York Stock Exchange, Nasdaq, and the American Stock Exchange as well as on all regional exchanges and electronic communications networks in the United States, the statement said.
Carey joins DTCC after spending more than 20 years with the Secret Service. As special agent in charge of the New York office, he supervised several regional offices and was responsible for the protection of visiting dignitaries, including the president and vice president of the United States. He also served as the agencys liaison with New Yorks financial, banking, and telecommunications communities by helping to ensure the security of their critical infrastructures.
Steve held one of the top-ranking positions in the U.S. Secret Services as special agent in charge of the New York office and brings great expertise and experience to this position, managing director Kevin Carey no relation said in the statement. His work also helped him develop an in-depth understanding of the U.S. financial market and its infrastructure, which ideally prepares him for his work at DTCC.
Before coming to New York, Carey was special agent in charge of the dignitary protective division in Washington, D.C., where he was responsible for the safety of all visiting foreign heads of state, as well as for 400 foreign missions, consulates, and diplomatic residences, the statement said. He also served in the presidential protective division, responsible for the safety of the president and his family.
At DTCC, he will report to Kevin Carey, managing director of human resources, training, corporate services, and security.
