The Depository Trust & Clearing Corporation (DTCC), the post-trade market infrastructure for the financial services industry, announced the appointment of Stephen Scharf to the newly-created position of CSO.

The appointment will centralize and align the firm's information security, physical security, employee safety, and crisis/incident management functions, ensuring a comprehensive and holistic approach to risk management and resilience across the organization.

Scharf joins DTCC from Experian where he served as global chief information security officer, accountable for the overall strategy, leadership and governance of Experian's global information security, physical security and business continuity programs. 

With the appointment, Mark Clancy steps down as DTCC's chief information security officer to assume his current full-time position as chief executive officer of Soltra, a DTCC & FS-ISAC joint venture that provides an automated cyber threat intelligence platform.