DEPOSITORY TRUST CO., New York, elected William F. Jaenike chairman of the board and chief executive.
He succeeds William T. Dentzer Jr., who is retiring.
Mr. Jaenike, 56, is currently president and chief operating officer of the company.
Depository Trust, a service company owned by members of the financial industry, is a national clearing house for the settlement of trades in corporate and municipal securities. It also performs securities custody services for its participating banks and broker-dealers.