Donald Donahue will become president and chief executive officer of the Depository Trust & Clearing Corporation effective August 1, the New York-based firm announced Thursday.

DTCC chairman and CEO Jill Considine decided to relinquish the titles of president and CEO as part of a long-term corporate succession plan she had introduced, according to the news release.

Donahue, currently DTCC's chief operating officer, will be replaced in that role by William Aimetti, who has served as the company's chief information officer since April 2003.

Besides assuming the top post at DTCC, Donahue will also serve as president and CEO of DTCC's core subsidiaries, National Securities Clearing Corporation (NSCC), the Depository Trust Company (DTC) and the Fixed Income Clearing Corporation (FICC). He and Considine will continue to serve as directors on DTCC's board.

Donahue, who joined DTC in 1986, has served as COO of DTCC since May 2003. Prior to joining DTC, he was president of president of two affiliated companies that developed and marketed credit enhancements for municipal securities. He previously worked for the Municipal Rulemaking Board.  

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