DTCC opens Shanghai office

The move will support its global corporate actions business.

New York-based Depository Trust Clearing Corporation DTCC has opened an office in Shanghai, its first in the Asia-Pacific region, in order to support its global corporate actions business.

The organization reviewed eight other regional cities but chose Shanghai for its educated labour pool, varied language ability, cost-effectiveness and quality of life. It is using facilities provided by consultancy Accenture, which also helped design the corporate actions service.

Andrew Barnes, who has been with DTCC in New York since 2001, has moved to Shanghai to manage the office. He reports to James Femia, DTCC managing director and head of its global corporate actions business in New York.

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