Post by soonerlew on May 14, 2007 11:06:08 GMT -5
Re: Gossip Column 5/14/07
« Reply #1 on Today at 12:16am »
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By: dustybutler1001
12 May 2007, 10:49 PM EDT
Msg. 340582 of 340601
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DTCC Clarifies Work Experience of Former DTC Employee
New York, March 14, 2006— The Depository Trust & Clearing Corporation (DTCC) issued a statement to correct inaccurate information that has appeared in the press and has been represented on Web sites and in public forums regarding the purported work experience of a former employee at one of DTCC’s subsidiaries.
Susanne Trimbath has never been an official of DTCC or any DTCC subsidiary or predecessor company. She has never been an officer of the company or any of its subsidiaries.
Our records indicate that Susanne Trimbath was hired by The Depository Trust Company (DTC) in 1987 as a manager of transfer agent services, a corporate middle-management position below officer level. Ms. Trimbath resigned from her DTC employment in1993 holding the same position.
There have been claims that Ms. Trimbath is an expert on clearance and settlement and the Stock Borrow Program. The Stock Borrow Program is now, and was at the time of Ms. Trimbath’s employment at DTC, operated by the National Securities Clearing Corporation (NSCC), a separate company from DTC. In fact, Trimbath’s employment at DTC pre-dates any corporate affiliation between DTC and NSCC, and predates the formation of DTCC.
At DTC, Ms.Trimbath was responsible for representing DTC’s interests with transfer agents for DTC-eligible securities regarding DTC’s business interactions with these agents. She never held a position in any operations area that dealt directly with electronic clearance and settlement or the Stock Borrow Program.
www.dtcc.com/PressRoom/2006/workexpe.html
By: stervc
13 May 2007, 12:00 PM EDT
Msg. 340586 of 340601
(This msg. is a reply to 340582 by dustybutler1001.)
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Dustybutler1001, with that DTCC Article...
That's interesting. I'm not sure what Susan Trimbath leaked out, but if one were to research the information about the make-up of the DTCC and their "family" of six subsidiaries and Joint Ventures, one would see that someone within the DTCC probably could have answered the mail a little differently.
According to the duties of Susan Trimbath as a manager of the transfer agent services within the DTC (a subsidiary of the DTCC), she was expert enough for me to believe whatever it was she was talking about concerning the DTCC.
Check out below the duties and responsibilities of the DTC:
www.dtcc.com/AboutUs/affiliates.htm
…The Depository Trust Company (DTC) established in 1973, was created to reduce costs and provide clearing and settlement efficiencies by immobilizing securities and making “book-entry” changes to ownership of the securities. It provides settlement services for all NSCC trades and for institutional trades, which typically involve money and securities transfers between custodian banks and broker/dealers. …
I’m not sure why they are trying to downplay her role and knowledge as such. Maybe I’m missing something here, but she was a manager within the DTC. I would like to think you get that position because of knowing very well the arena involved concerning your job and affiliates. I would have to think that she knows something after working there at the DTC from 1987 to 1993 as a manager. Personally, it would be hard for me to challenge anything she was saying.
v/r
Sterling
« Reply #1 on Today at 12:16am »
--------------------------------------------------------------------------------
By: dustybutler1001
12 May 2007, 10:49 PM EDT
Msg. 340582 of 340601
Jump to msg. #
DTCC Clarifies Work Experience of Former DTC Employee
New York, March 14, 2006— The Depository Trust & Clearing Corporation (DTCC) issued a statement to correct inaccurate information that has appeared in the press and has been represented on Web sites and in public forums regarding the purported work experience of a former employee at one of DTCC’s subsidiaries.
Susanne Trimbath has never been an official of DTCC or any DTCC subsidiary or predecessor company. She has never been an officer of the company or any of its subsidiaries.
Our records indicate that Susanne Trimbath was hired by The Depository Trust Company (DTC) in 1987 as a manager of transfer agent services, a corporate middle-management position below officer level. Ms. Trimbath resigned from her DTC employment in1993 holding the same position.
There have been claims that Ms. Trimbath is an expert on clearance and settlement and the Stock Borrow Program. The Stock Borrow Program is now, and was at the time of Ms. Trimbath’s employment at DTC, operated by the National Securities Clearing Corporation (NSCC), a separate company from DTC. In fact, Trimbath’s employment at DTC pre-dates any corporate affiliation between DTC and NSCC, and predates the formation of DTCC.
At DTC, Ms.Trimbath was responsible for representing DTC’s interests with transfer agents for DTC-eligible securities regarding DTC’s business interactions with these agents. She never held a position in any operations area that dealt directly with electronic clearance and settlement or the Stock Borrow Program.
www.dtcc.com/PressRoom/2006/workexpe.html
By: stervc
13 May 2007, 12:00 PM EDT
Msg. 340586 of 340601
(This msg. is a reply to 340582 by dustybutler1001.)
Jump to msg. #
Dustybutler1001, with that DTCC Article...
That's interesting. I'm not sure what Susan Trimbath leaked out, but if one were to research the information about the make-up of the DTCC and their "family" of six subsidiaries and Joint Ventures, one would see that someone within the DTCC probably could have answered the mail a little differently.
According to the duties of Susan Trimbath as a manager of the transfer agent services within the DTC (a subsidiary of the DTCC), she was expert enough for me to believe whatever it was she was talking about concerning the DTCC.
Check out below the duties and responsibilities of the DTC:
www.dtcc.com/AboutUs/affiliates.htm
…The Depository Trust Company (DTC) established in 1973, was created to reduce costs and provide clearing and settlement efficiencies by immobilizing securities and making “book-entry” changes to ownership of the securities. It provides settlement services for all NSCC trades and for institutional trades, which typically involve money and securities transfers between custodian banks and broker/dealers. …
I’m not sure why they are trying to downplay her role and knowledge as such. Maybe I’m missing something here, but she was a manager within the DTC. I would like to think you get that position because of knowing very well the arena involved concerning your job and affiliates. I would have to think that she knows something after working there at the DTC from 1987 to 1993 as a manager. Personally, it would be hard for me to challenge anything she was saying.
v/r
Sterling