US post-trade group DTCC has named Ann Shuman as general counsel.
She replaces Larry Thompson, who will now serve full time as chairman.
The general counsel role includes responsibility for advising senior management and the DTCC Board of Directors on legal and regulatory matters.
Shuman has been with DTCC since January 2014 after joining from CME.
Larry Thompson has been at the DTCC since 1981.
Commenting on Shuman’s appointment, Michael Bodson, DTCC president and CEO said Shuman has distinguished herself for her "sharp legal mind, her deep understanding of the complexities and nuances of financial market infrastructures".
On Thompson's appointment, he added: "We expect to continue facing regulatory scrutiny in the coming years as well as the potential for new legislation and further regulatory developments.
"Larry will focus on these issues to protect our interests and promote DTCC’s critical role in reducing risk for the industry.”