DTCC Names Robert Peiffer as Managing Director and General Auditor

Business Wire, Oct 1, 2008

NEW YORK -- The Depository Trust & Clearing Corporation (DTCC) today announced the appointment of Robert Peiffer as managing director and general auditor. In this position, he will lead all internal audit activities of DTCC and its global subsidiaries.

Peiffer will be based in New York City and in accordance with DTCC's normal governance procedures, will report to the chairman of the DTCC Audit Committee, one of the committees of DTCC's Board of Directors.

Peiffer comes to DTCC from Merrill Lynch, where he served in senior roles in both Internal Audit and Compliance, most recently as the chief operating officer for Merrill's Global Compliance area. During his nine years with Merrill, Peiffer worked in Hong Kong, Tokyo, London, and New York.

Prior to joining Merrill Lynch, Peiffer also worked for UBS and Bank of America in internal audit roles. Peiffer began his career as an external auditor for Price Waterhouse (now PricewaterhouseCoopers), providing audit services to financial services clients including broker/dealers, retail and consumer banks, asset managers and private equity firms, working in Washington D.C., Budapest, and Hong Kong in his nine years with that firm.

"Rob has been involved in nearly 1,000 audits over the past 10 years, and brings substantial experience leading operational and technology audits of complex financial institutions. He is a proven leader, and brings a clear understanding of best practices in internal audit, compliance, and enterprise risk management functions," said Donald F. Donahue, chairman and CEO of DTCC. "We are especially excited by his extensive experience working outside the U.S., bringing first-hand understanding of the complex business and regulatory challenges of working in these markets."

"This is an exciting and challenging time for risk management and control professionals," said Donahue. "At DTCC, we have no higher priority than meeting our risk mitigation responsibilities and strong, objective Internal Audit and robust Compliance and Risk Management functions are critical to meeting this goal."

Peiffer holds a Bachelor of Science degree in Business from Miami University (Ohio) with a triple major in Accounting, Finance, and Decision Sciences.

About DTCC

The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with financial firms and third parties who market these products. DTCC's depository provides custody and asset servicing for 3.5 million securities issues from the United States and 110 other countries and territories, valued at $40 trillion. Last year, DTCC settled more than $1.86 quadrillion in securities transactions. DTCC has operating facilities in multiple locations in the United States and overseas. For more information on DTCC see www.dtcc.com.