CLS Names Two New Directors

FX settlement services provider CLS has made two additional appointments to its board of directors, bringing the total to 21, of which eight are designated as outside of independent directors.

Brigitte Daurelle has joined as an independent/outside director. She is the former CEO of Euroclear Belgium, France, Netherlands and currently serves as an independent non-executive director at French public bank SFIL, where she chairs the audit committee and is a member of the governance & ESG, remuneration and risk committees. With a career spanning more than two decades at Euroclear, Daurelle has held several senior leadership roles, most recently as CEO & integration lead at MFEXbyEuroclear. 

Ryo Terazawa has also been named to the CLS board, he is the currently deputy head of the transaction services division at MUFG Bank. He leads organisational and internal control matters within the division, which provides JPY-related cross-border transaction services, including cash clearing, CLS settlements, and securities custody.

Prior to his current role, he was head of the transaction marketing office at MUFG, promoting the bank’s JPY cash clearing and sub-custody services.

“Our new directors’ extensive backgrounds in market infrastructure and financial services will be invaluable as we work to enhance the value provided through CLS’s services while addressing the challenges faced by the FX industry,” says Gottfried Leibbrandt, chair of the CLS board.