CLS Names Six New Directors

CLS has named six new directors to its board as part of its regular rotation of positions on the body, two of them outside/independent directors, the other four from shareholder institutions.

James Hardy and Chadwick Renfro are the independent directors on the new board, Hardy is the founder of Iroko Technologies and former chief resiliency officer and chief data officer at State Street Corporation, while Renfro is former chief information security officer (CISO) at Bank of America and Fidelity Investments, focused on cyber-security and crisis management.

From the industry, Richard James, head of FX digital distribution at Deutsche Bank, joins the board. He has been with Deutsche for over a year, having previously been chief product and strategy officer at Project Amber, prior to which he spent 22 years at JP Morgan, most latterly head of global macro digital markets.

Sandra Laielli van Scherpenzeel, global head of cash banks, institutional and multinational banking at UBS, also joins the board, she has worked at UBS for over 25 years. In addition, Matthieu Mercier, CISO at BNP Paribas, where he has worked for 15 years; and Boyd Winston, global head of macro operations and head of EMEA operations at JP Morgan, where he has worked for 14 years, are named.

“As settlement risk remains a key focus for the FX industry, we are pleased to welcome these new directors, whose collective expertise across financial markets, information security, cybersecurity, operational resilience, technology and risk management will bring valuable perspectives to CLS,” says Gottfried Liebbrandt, chair of the CLS board. “We look forward to working with them as we continue to support the development of, and strengthen resilience across, the global FX ecosystem.”