The Depository Trust & Clearing Corporation's shareholders elected three new nominees and re-elected 18 others to DTCC's 21-member Board of Directors at the company's annual shareholder meeting on April 30, 2003. The newly elected directors are: Paul F. Costello, COO of Wachovia Securities; James P. Palermo, vice chairman of Mellon Financial Corporation; and Douglas Shulman, president of NASD Regulatory Services and Operations and a member of NASD's Office of the Chairman. They succeed James Messenger, CEO of National Financial Services Corporation; Peter Quick, president of The American Stock Exchange, and James W. Zeigon, managing director of Deutsche Bank AG. All three retired from DTCC's board.
SunGard Business Integration, an operating group of SunGard, announced that FIBI Bank, a wholly owned subsidiary of the First International Bank of Israel, has selected its SWIFTNet FIN accredited MINT SWIFT solution as a strategic integration platform to manage its migration from SWIFT's X.25 network to the new FIN services on the SWIFTNet IP network.
HelioGraph, a facilitator of STP and financial messaging, announced that Gert Raeves, securities product manager, has been voted onto the ISITC Europe Executive Committee. Gert and Nigel Solkhon from IBM now have the responsibility of representing the vendor community in Europe. ISITC-IOA (International Securities Association for Institutional Trade Communication - International Operations Association) is a global working committee of securities operations professionals representing custodian banks, investment managers, brokers, and vendors.
City Networks, provider of software and services to the treasury, securities and derivatives markets, announced from the SWIFT Central and Eastern European conference in Bucharest that Bank BPH PBK has gone live with the CityNet Exception Processing (TIPS) module. Bank BPH PBK is the third largest Bank in Poland and is owned by the HVB Group -- Bank Austria AG and Bayerische Hypo-und Vereinsbank AG. Bank BPH PBK is listed on the Warsaw Stock Exchange and on the London Stock Exchange in the form of GDRs.