--- begin forwarded text Delivered-To: rah@shipwright.com Delivered-To: clips@philodox.com Date: Sat, 24 Jun 2006 23:35:54 -0400 To: Philodox Clips List From: "R.A. Hettinga" Subject: [Clips] American Executive in Brussels Aided Terrorist-Tracking Program Reply-To: clips-chat@philodox.com Sender: clips-bounces@philodox.com http://online.wsj.com/article_print/SB115110975872789608.html The Wall Street Journal American Executive in Brussels Aided Terrorist-Tracking Program By GLENN R. SIMPSON June 24, 2006 The Treasury Department's secret terrorist-tracking program depended in part on the cooperation of Leonard "Lenny" Schrank, an American executive who heads the Belgium-based banking cooperative known as Swift. A gregarious technology whiz who graduated from the Massachusetts Institute of Technology, the Brooklyn-born Mr. Schrank ended up working closely with U.S. intelligence officials on the project when Swift received subpoenas from the Treasury Department following the Sept. 11, 2001, attacks, people familiar with the program said. Mr. Schrank, who described Swift's general operations in a meeting with a Wall Street Journal reporter last year, declined Friday to be interviewed regarding the terrorist-tracking program. Swift stands for the Society for Worldwide Interbank Financial Telecommunication. The firm, based in the Brussels suburb of La Hulpe, was founded in 1973 to promote "a common language for international financial transactions," according to the Swift Web site. Within the banking industry, Mr. Schrank is credited with developing the financial-telecommunications cooperative into a vital if obscure cog in the globalization of financial services since becoming chief executive in 1992. An expert in information technology who has degrees in computer science and electrical engineering, Mr. Schrank has been involved in the technology business since founding a software company in the 1970s. At Swift, he implemented a reliable, secure and high-capacity messaging network that has enabled banks and brokerages to move money around the globe almost effortlessly. Under Mr. Schrank, a fan of the U.S. space program, Swift adopted the Apollo mission motto, "Failure Is Not an Option." Last year, Swift brought Apollo 13 astronaut Alan Bean to speak at its headquarters to help promote its "culture of commitment to provide services of the highest security, reliability and resilience," according to Swift's most recent annual report. Mr. Schrank is one of the best-known American businessmen in Brussels, where he also serves as president of the American Chamber of Commerce in Belgium. He is planning to retire next year. -- ----------------- R. A. Hettinga The Internet Bearer Underwriting Corporation http://www.ibuc.com/ 44 Farquhar Street, Boston, MA 02131 USA "... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire' _______________________________________________ Clips mailing list Clips@philodox.com http://www.philodox.com/mailman/listinfo/clips --- end forwarded text -- ----------------- R. A. Hettinga The Internet Bearer Underwriting Corporation http://www.ibuc.com/ 44 Farquhar Street, Boston, MA 02131 USA "... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'