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存's Murray Pozmanter Reflects on Career and Industry Milestones

By 存管连接 Staff | 6 minute read | April 5, 2023

存 congratulates Murray Pozmanter, 董事总经理, 存清算代理服务总裁兼全球业务运营主管, who recently announced his retirement, 4月14日生效. 在他任职存的16年里,Pozmanter对存和美国金融市场产生了深远而积极的影响, greatly benefitting the industry, 我们的客户和, 最终, 终端投资者.

存管连接 sat down with Pozmanter to discuss his notable achievements, 行业里程碑和未来——对他自己和整个行业都是如此.

Related: 存 Announces Executive 领导 Team Appointments

DC:当你16年前加入存时,你对它的最初印象是什么? How have you seen the company evolve during that time?

MP: 在被聘用之前,我一直在vnsr威尼斯城官网登入行业工作,并在存工作了很长时间. I knew coming in that a lot of the employees at 存 were home grown, with very long-tenured people with deep subject-matter expertise. 存 has grown so much since I joined. 因为公司的文化,我感觉自己在这里已经工作了16年, 我们的全球视野, the entrepreneurial spirit – has shifted, evolved and changed so much. It is a special organization.

DC:在过去的几年里,你成功地应对了无数的市场冲击. Which did you find most challenging? 你在早期的危机中吸取了哪些教训?

MP: 当我开始的时候,正好是2008年金融危机开始的时候. 首先是贝尔斯登, which then precipitated an even wider collapse, with the Lehman Brothers close-out. 我们在处理贝尔斯登(Bear Stearns)和雷曼(Lehman)的过程中吸取了很多教训. 在那之前,我们管理的倒闭公司都是小型的经纪自营商, 从来没有前五名, and nothing of that scale and impact before. 我们从处理和控制雷曼的后果中获得了大量的经验,我们今天仍在使用其中的一些经验教训.

有些事情我们还是会一次又一次地提到——缩减计划, 推动《vns6060威尼斯城官网》早期的新要求和立法, how we managed the shocks of market volatility, 我们作为具有系统重要性的金融市场公用事业机构(SIFMU)对行业的责任. All of these are lessons learned that we continue to apply.

DC: Under your leadership, 存推出了几项新服务,帮助塑造了行业的发展方向. What’s the achievement you’re most proud of? What impact have they had on market structure and market stability?

MP: 我特别为MBS中央对手方倡议感到自豪. It has been such a game changer for the industry. We had it up and running in pilot as “CCP for a day,因此,我们能够将其用于雷曼倒闭,化解市场风险,并在危机时刻带来急需的稳定. 如果没有这些CCP工具,雷曼倒闭的规模将具有难以置信的破坏性, 即使是在试验的基础上.

2017年将结算周期从T+3缩短到T+2,也是存和行业的巨大成就. 整个行业令人难以置信的合作和伙伴关系确保了无缝过渡是前所未有的. And the success of the move to T+2, 当然, 导致了我们今天vns6060威尼斯城官网进一步缩短到T+1及以后的讨论.

DC: If you could change anything, what would you do differently?

MP: 事后诸葛亮,但我确实认为回顾过去有助于塑造你前进的方向,这一点很重要. 我真的很自豪能够在推动这么多令人兴奋的倡议和变革的想法中发挥作用. We established 存 as a thought leader on a wide range of topics, 这些努力最近已经转化为几个令人兴奋的全行业倡议, 如 T+1,增加 central clearing of US Treasuries, responding to new rules and regulatory changes, 仅举几个例子, that have made the markets safer, 更有弹性, 和高效的. 此外,我们自己的现代化努力也取得了良好进展. This represents a significant body of work, 因此,为了成功执行,公司需要继续确定优先级.

The industry wants 存 to play a larger role moving forward, and the company has the vision, talent and expertise to support clients in new ways. It’s a challenging time for our clients, but I’m confident 存 will continue to make a positive impact. 对我来说, 这不是要改变过去,而是要在过去成就的基础上创造更大的影响.

DC:您在2017年帮助指导行业完成了从T+3到T+2的转变,并一直在协调2024年向T+1转变的计划. What’s different about this move? Where is settlement headed next?

MP: Moving from T+3 to T+2 didn’t require structural changes, 这意味着我们不需要在交易日期(T)更改流程。. However, that transition helped lay the foundation for T+1. 在某些情况下, 公司增加了更多的vns6060威尼斯城官网,设法从周期中挤出一天的时间,并在那时加快了处理速度.

现在, with the move from T+2 to T+1, 公司认识到,在截止日期和截止日期方面需要做很多改变, automating affirms and confirms, adjustments to how the industry processes FX, 股票贷款, 其他市场结构也发生了变化,以适应更短的结算周期.

那些加大努力从T+3向T+2转变的机构在T+1方面处于相对有利的地位. 其他人则需要优先安排工作,并迅速行动以赶在最后期限前完成任务. 我可以肯定的是,存将在此期间继续为市场参与者提供支持,帮助他们.

As for where settlement is headed next, moving beyond T+1 to any kind of same day settlement of T+0, 甚至是早上的T+1, will require additional discussion, including a rigorous cost-benefit analysis across the industry, because it will require significant major market structure changes.

Related: Discover More vns6060威尼斯城官网 Accelerating to T+1

DC:在同行中, you’re known as an exceptionally strong ally in advancing diversity, equity and inclusion at 存. How have you put your beliefs into action?

MP: 我一直专注于把最优秀的人才放在他们能成功的位置上. 注意如何提升中层人员是非常重要的, increasing our bench strength, 让他们参与到发展机会中,让他们成为未来的领导者. You cannot just magically make it happen. 你必须增加人才库的多样性,有意识地培养意见的多样性.

DC:展望未来, 你认为这个行业需要解决的最重要的问题是什么?

MP: Certainly, all things cyber will be a very significant topic. When you consider information security in general, 部署新技术, AI, DLT and increased use of public and private cloud, these will create new vectors for attacks. The attacks are not going to slow do, 因此,该行业需要相互合作,并与公共部门合作,加强保护,增强抵御能力.

DC: You’ve made a major impact at 存 and within the industry. 你接下来要做什么?

MP: 现在疫情过后,我们已经稳定下来,我知道我离开存的时机很好. I’ve had an amazing and rich career at 存, 身处这一切的中心有很多令人兴奋的事情. I know I want to take some time off to rest and recharge, but I also want to stay active in market infrastructure.

DC: Any final thoughts as you plan to retire from 存?

MP: It may sound cliche, but I will miss the people. 存 has the very best colleagues, and this is just an amazing, 独特的地方,培养那种激情和对卓越的深刻承诺. 同事成为朋友,朋友成为家人,我会想念存的家人.

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