(Archived Content)
FROM THE OFFICE OF PUBLIC AFFAIRS
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Secretary John W. Snow today designated Donald F. Donahue as the new Sector Coordinator in the national effort to protect the U.S.’s critical financial infrastructure. As Sector Coordinator, Donahue will work with Treasury to respond to President Bush’s call to develop strategies to strengthen and protect our critical financial infrastructure. Donahue will play a key role in ensuring that the private sector and the government work cooperatively to enhance the resilience of our financial infrastructure.
By being named Sector Coordinator, Donahue will also chair the financial industry’s Financial Services Sector Coordinating Council (FSSCC). The FSSCC works closely with the Department of the Treasury and other regulators to coordinate the private sector’s preparation for events that could disrupt the normal business of the financial services sector, such as cyber attacks, natural disasters and terrorist attacks.
“Our financial critical infrastructure is the lifeblood of the American economy, and since the attacks of September 11, 2001, the Bush Administration has made working together with the private sector to protect it a top priority. As the Sector Coordinator and Chairman of the Financial Services Sector Coordinating Council, Don Donahue will provide valuable leadership as we continue to enhance our security,” said Secretary Snow.
In accepting this position, Donahue stated: “I look forward to working with the Department of the Treasury and others to further strengthen the resiliency of America’s financial services sector. While much has been accomplished, we still have more to do.”
Donahue is currently the President of the Depository Trust Corporation and Chief Operating Officer of the DTCC, where he has served since 1986. Since the integration of the Depository Trust Company and the National Securities Clearing Corporation, Mr. Donahue has been managing director for the Customer Marketing and Development Group, responsible for developing and marketing the service lines offered by DTCC’s subsidiaries. This role includes strategic planning, product development, IT applications development, and technology infrastructure support and telecommunications.
During today’s meeting, the contributions of outgoing Sector Coordinator and FSSCC chairwoman, Rhonda E. MacLean, were recognized. “By leading the effort to create the Financial Services Sector Coordinating Council, Rhonda MacLean achieved sector-wide participation and coordination on vital critical infrastructure protection initiatives. The financial services sector is better prepared today because of the accomplishments of the Council under Mrs. MacLean’s leadership,” said Snow.
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