The Depository Trust & Clearing Corporation's (DTCC) Board of Directors has appointed Francis (Frank) La Salla, currently Chief Executive Officer of BNY Mellon’s Issuer Services business and a member of the BNY Mellon Executive Committee, as President and Chief Executive Officer (CEO) of the company, effective 12 August.

La Salla’s appointment as CEO reflects the Board’s long-term succession planning and rigorous search process with the scheduled retirement of Michael C Bodson, who has served as DTCC’s CEO since July 2012.
 
La Salla will also serve as President and CEO of DTCC’s principal operating subsidiaries, The Depository Trust Company (DTC), Fixed Income Clearing Corporation (FICC) and National Securities Clearing Corporation (NSCC), and a member of DTCC’s Board of Directors. Additionally, he becomes a member of DTCC’s Management Committee. La Salla joins DTCC on June 13, 2022 as CEO-elect, and between June and August, La Salla and Bodson will work together to ensure a seamless and orderly transition of responsibilities.
 
La Salla joins DTCC following a 28-year career at BNY Mellon, where he held several senior-level positions, including most recently as Chief Executive Officer of its Issuer Services business and a member of BNY Mellon’s Executive Committee, the senior-most leadership committee at the firm.