OCC Adds Leaders from Morgan Stanley and Bank of America Merrill Lynch to Board of Directors

CHICAGO (July 29, 2019) – OCC, the world’s largest equity derivatives clearing organization, announced today that Susan O’Flynn, Managing Director and Global Head of CCP Strategy and Resource Optimization with Morgan Stanley, and Stuart Bourne, Managing Director, Head of Americas Asset Management Services with Bank of America Merrill Lynch, have joined OCC’s Board of Directors as Member Directors.

“As a Systemically Important Financial Market Utility, OCC is fortunate to attract a Board of Directors that brings significant expertise in risk management, technology, operations, compliance, regulatory policy and audit to help us fulfill our mission of ensuring confidence in financial markets and the broader economy,” said Craig Donohue, OCC Executive Chairman. “Adding Susan and Stuart to our board of directors supports OCC’s continued resiliency, innovation and growth as an industry leader as we clear the path to provide high-quality, efficient clearance, settlement and risk management services to the users of our markets.”

O’Flynn has worked for Morgan Stanley since 2008, and currently is globally responsible for CCP strategy and resource optimization, in addition to being EMEA Head of Bank Resource Management within Institutional Securities. Prior to that, she worked at Goldman Sachs in the structured funding business in London and New York for three years. She holds a Masters’ degree in Intellectual Property Law from University College in London, and a Bachelor of Laws degree from University College in Dublin.

Bourne has worked for Bank of America Merrill Lynch since 2013, and his role includes responsibility for options clearing and prime brokerage. Prior to that, he worked at Morgan Stanley for 16 years, most recently serving as Managing Director, Prime Brokerage. Bourne holds an economics degree from the University of Warwick in England.

Ms. O’Flynn and Mr. Bourne fill the vacancies left by the resignations of Rachelle Keller of Citi in July 2018, and Jonathan Werts from Bank of America Merrill Lynch in May 2019.

About OCC

OCC is the world’s largest equity derivatives clearing organization and the foundation for secure markets. Founded in 1973, OCC operates under the jurisdiction of both the U.S. Securities and Exchange Commission (SEC) as a registered clearing agency and the U.S. Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. Named 2019 Best Clearing House by Markets Media, and 2018 Clearing House of the Year — The Americas by FOW, OCC now provides central counterparty (CCP) clearing and settlement services to 20 exchanges and trading platforms for options, financial futures, security futures, and securities lending transactions. More information about OCC is available at www.theocc.com.