DEPOSITORY TRUST CO., New York, elected William F. Jaemike 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 ofricer 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.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.