Former Experian Global Chief Information Security Officer (CISO) Stephen Scharf has assumed the newly created position of chief security officer (CSO) at The Depository Trust & Clearing Corporation (DTCC).

Scharf’s appointment clears the way for DTCC CISO Mark Clancy to step down and take the helm full-time as chief executive officer (CEO) of DTCC and FS-ISAC joint venture Soltra, which offers an automated cyber threat intelligence platform.

Before his tenure at Experian, Scharf was the global CSO for Bloomberg LP and brings more than 20 years of IT experience to the table, 15 of those spent in information security, according to a DTCC release. In his new position, Scharf will be tasked with providing a unified approach to risk and resilience.