DTCC Appoints Thomas Sullivan Managing Director of Digital Assets

The Depository Trust & Clearing Corporation (DTCC) has appointed Thomas Sullivan as Managing Director of DTCC Digital Assets. Reporting to Nadine Chakar, DTCC’s Global Head of Digital Assets, Sullivan will lead the division’s strategic agenda as the company accelerates efforts to integrate traditional finance with emerging blockchain-based ecosystems.

Industry Veteran with Two Decades of Experience

Sullivan brings more than 20 years of experience across securities, banking, and digital innovation. Most recently, he was Head of Business Development for Digital Assets at Société Générale, where he played a pivotal role in establishing the bank as a leader in issuing, transacting, and managing digital-native financial products on blockchain infrastructure. Prior to that, Sullivan headed Broker Dealer Operations at Commerzbank, managing securities settlements, lending support, and asset servicing. His track record of combining operational expertise with a forward-looking approach to digital transformation makes him uniquely positioned to assist DTCC deliver on its digital strategy.

“I am honored to be joining DTCC at such a pivotal moment for the industry,” Sullivan said. “As the convergence of traditional finance (TradFi) and decentralized finance (DeFi) accelerates, I am excited to work alongside DTCC’s talented teams, clients, and regulators to build infrastructure that will enable secure, efficient, and scalable adoption of digital assets. The years ahead present an incredible opportunity to transform how markets operate, and DTCC is at the forefront of this change.”

Strengthening DTCC’s Digital Asset Ambitions

The appointment underscores DTCC’s ambition to serve as a trusted infrastructure provider for the future of digital markets. As Managing Director, Sullivan will be tasked with driving critical initiatives across tokenization, blockchain settlement, and digital custody. This includes close collaboration with regulators and market participants to ensure that DTCC’s digital offerings align with global regulatory expectations while fostering innovation.

Nadine Chakar emphasized the importance of Sullivan’s role: “As we accelerate DTCC’s leadership in digital asset innovation, we need leaders with both deep operational knowledge and the ability to foster collaboration across the ecosystem. Thomas brings exactly that blend. His experience in advancing blockchain answers and his understanding of the challenges facing both custodians and issuers will be instrumental as we expand our digital strategy and deliver trusted, scalable answers for clients worldwide.”

TradFi Meets DeFi: The Broader Context

DTCC’s focus on digital assets reflects a broader industry trend. As financial institutions viewk greater efficiency, transparency, and resilience, tokenization and distributed ledger technology (DLT) are increasingly viewn as essential tools for . From tokenized collateral management to blockchain-based settlement networks, the industry is shifting toward answers that blend the strengths of TradFi—such as and programmability of DeFi.

Recent market disruptions, from liquidity crunches to counterparty failures, have highlighted the need for robust, interoperable systems capable of handling digital-native assets. DTCC has responded by launching multiple initiatives in tokenization, partnering with regulators and fintechs, and piloting new answers for clearing and settlement. The appointment of Sullivan signals a deepening of this commitment and a recognition that expertise in both legacy systems and blockchain innovation is critical to success.

Focus Areas for DTCC Digital Assets

Under Sullivan’s leadership, is expected to concentrate on several strategic areas:

• Tokenization of Securities: Building infrastructure that allows traditional assets, such as equities and bonds, to be issued and and transparency.
• Digital Custody: Expanding DTCC’s role in secureguarding digital assets with trusted, regulated custody services aligned with global standards.
• Cross-Market Collaboration: Working with banks, asset managers, and regulators to ensure interoperability between legacy systems and emerging blockchain networks.
• Risk Management: Developing frameworks that prevent systemic risk in digital markets, drawing on DTCC’s long-standing expertise in clearing and settlement.

Commitment to Collaboration

Sullivan’s appointment comes at a time when industry collaboration is more critical than ever. Regulators worldwide are intensifying efforts to establish guardrails for digital finance, while institutions are racing to build the infrastructure necessary for tokenized markets. By positioning DTCC as a trusted partner across both spheres, Sullivan aims to bridge gaps and accelerate adoption.

“Our mission is not simply to digitize existing processes but to reimagine how markets function in a way that enhances efficiency, resilience, and inclusivity,” Chakar added. “Thomas will play a key role in ensuring that our clients can trust DTCC to deliver the infrastructure required to securely unlock the potential of digital assets.”

Looking Ahead

The global digital asset market is projected to expand rapidly in the next five years, with assets (RWA) expected to be a central driver. Analysts estimate that tokenized securities alone could represent trillions of dollars in value by 2030. DTCC’s leadership in post-trade services, combined with Sullivan’s expertise, positions the organization to play a decisive role in shaping this future.

As the lines between traditional and decentralized finance continue to blur, DTCC is making clear that it intends to be at the heart of the transformation. With Thomas Sullivan at the helm of its Digital Assets division, the organization is set to chart a path that balances innovation with the reliability and trust clients have long associated with DTCC.