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George S. Hender Named Financial Services Sector Coordinator for Critical Infrastructure Protection and Homeland Security

CHICAGO, June 6, 2006 - Treasury Secretary John W. Snow has named George S. Hender, Management Vice Chairman of The Options Clearing Corporation, as the new Sector Coordinator in the ongoing effort to protect the nation's critical financial infrastructure. Hender will play a key role in ensuring the private sector and the government continue to work together to enhance the resilience of the U.S. financial system.

As Sector Coordinator, Hender will chair the Financial Services Sector Coordinating Council for Critical Infrastructure Protection and Homeland Security (FSSCC). The FSSCC works closely with Treasury and other federal financial regulators to coordinate the sector's preparation for events that could disrupt the normal business of the financial services industry, including natural disasters and terrorist attacks. Hender has served as Vice Chairman of the FSSCC since September, 2004.

"A resilient financial system is critical to ensure the health of our economy and our national security. As FSSCC Chair, Mr. Hender will take the helm coordinating the government's efforts with the private sector as we work toward this common goal," said Assistant Secretary for Financial Institutions Emil W. Henry, Jr. "I am confident he will discharge this responsibility with the same professionalism, leadership, and commitment to excellence he has shown in his hard work with FSSCC to date."

In building upon the organization's accomplishments over the past four years, the FSSCC will soon be preparing "best practices" for firms to deal with avian flu and a Disaster Response Protocol to guide the public/private partnership in the event of a disaster with the potential for systemic impact—such as a major hurricane.

"I look forward to working with the Department of the Treasury, other federal agencies and the membership of the FSSCC to continue the organization's progress in strengthening the resiliency of the financial services sector," Hender said.

Hender succeeds outgoing Chairman Donald F. Donahue of the Depository Trust & Clearing Corporation who served in the position since 2004. Donahue's leadership helped steer the financial services industry through difficult events, including the elevation of the terrorism threat level in August 2004, the July 2005 London bombings and recovery from Hurricane Katrina. During his tenure, the sector supported initiatives to restore financial services in the communities devastated by last year's hurricanes, promoted local infrastructure protection and recovery through regional coalitions and demonstrated its continuity of operations in a number of testing and simulation exercises.

About OCC

OCC, founded in 1973, is the world's largest derivatives clearing organization and was the first clearinghouse to receive a 'AAA' credit rating from Standard & Poor's Corporation. Operating under the jurisdiction of the Securities and Exchange Commission and the Commodity Futures Trading Commission, OCC provides clearing and settlement services for the American Stock Exchange, the Boston Options Exchange, Chicago Board Options Exchange, CBOE Futures Exchange, International Securities Exchange, NYSE Arca, OneChicago, Philadelphia Stock Exchange and Philadelphia Board of Trade. More information about OCC is available through its Web site at

About George S. Hender

George S. Hender is Vice Chairman of The Options Clearing Corporation (OCC) and President of the Options Industry Council (OIC).

In addition to his FSSCC role, Mr. Hender is currently Vice Chairman of FS-ISAC. FS-ISAC is the organization which gathers and distributes critical cyber space and homeland security information to the financial services firms. He is also President of the International Options Clearing Association (IOCA) and a member of the Executive Committee of the International Options Markets Association (IOMA). He is a past Chairman of CCP12, the International Organization of Central Counterparties. Mr. Hender is past Vice Chairman of the Board of Directors Executive Committee of ChicagoFIRST, a nonprofit association dedicated to addressing homeland security issues affecting financial institutions.

Formerly, Mr. Hender was Executive Vice President and Director of BancAmerica Options, Inc., and Tague Securities Corporation. He has been a member of the Board of Governors of the Philadelphia Stock Exchange, the Board of Directors of The Options Clearing Corporation and the Stock Clearing Corporation of Philadelphia. Mr. Hender has conducted and spoken at numerous seminars throughout the world on derivative products and clearing.

Mr. Hender is a graduate of the Washington College of Law and is a member of the Pennsylvania and American Bar Associations. He is admitted to the Supreme Court of Pennsylvania and the Supreme Court of the United States of America.