DEPOSITORY TRUST Co., New York, said Thomas A. Williams has been elected president and a director of the world's largest securities depository, effective Oct. 1.
Mr Williams assumes the post previously held by William F. Jaenike, who became the corporation's chairman on Sept. 1.
Mr. Williams is currently a partner of the international law firm of Milbank, Tweed, Hadley & McCloy, which has been outside counsel to the depository since its creation in 1973.
He has spent 31 years at Milbank Tweed, 23 as a partner.
Depository Trust is a service company owned by members of the financial industry.