The Depository Trust & Clearing Corporation has named Noel Donohoe to a newly created position as executive managing director and group chief risk officer. A financial services industry leader in global risk management, Donohoe will join DTCC in August, with responsibility for formulating and implementing DTCC's overall risk management strategy in collaboration with its senior management team.

Donohoe will oversee the organization's enterprise risk management; operational risk management; and systemic risk teams. He is charged with ensuring that DTCC's comprehensive risk management initiatives are fully integrated into its overall organizational efforts. Donohoe will also serve as a member of DTCC's Management Committee and act as the principal advisor to the board and risk committee on all risk matters. He will report to Robert Druskin, DTCC executive chairman and to DTCC's board risk committee.

Donohoe joins DTCC from Credit Suisse, where he most recently was managing director, global head of product control. There he led efforts to build the organization's product control process globally, successfully creating an organizational structure, hiring key talent, and redesigning systems, processes and technology. In this role, he was a member of Credit Suisse's equity, fixed income and operational risk committees and was responsible for interacting with regulators in the U.S. and worldwide on issues relating to risk and capital.

Prior to that, Donohoe was co-head, global risk, for Merrill Lynch where he had responsibility for market, credit, and operational risk worldwide, reporting directly to the chairman and CEO prior to the organization's merger with Bank of America. Earlier in his career, he served as chief operating officer and partner of hedge fund management firm Dune Capital; and spent more than 11 years at Goldman Sachs, serving most recently as head of firm-wide risk before leaving in 2005.