CLS Group Appoints New CEO
CLS Group has announced that David Puth will take over as its CEO from 21 August.
Puth will be responsible for the day-to-day management of CLS, which was established by a consortium of major banks to mitigate settlement risk in foreign exchange (FX) transactions ten years ago.
Prior to CLS, he spent 19 years at JPMorgan, working across FX, commodities and other areas, as well as serving on its Chase Executive Committee. After leaving JPMorgan in 2007, he founded the risk management consultancy Eriska, before joining State Street in 2008.
As well as his career moves, Puth has also served on the Foreign Exchange Committee, and the board of directors of both the Chicago Mercantile Exchange and ICAP.
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