CLS adds State Street and Credit Suisse executives to its Board of Directors


FX settlement giant CLS Group today announced that four new directors have been elected to its Board of Directors at its Annual General Meeting held on April 26, 2016.

With the four additions, the CLS Board now totals twenty-three Directors, four of whom are independent and designated as Outside Directors.

The four new directors are:

Jennifer Buonopane is a Senior Managing Director and Chief Operating Officer at State Street Global Markets (SSGM). Ms. Buonopane joined State Street in 2007. She is responsible for operating performance and leadership of more than 350 employees as well as operations, onboarding, middle office and project management infrastructure for SSGM worldwide and its global transformation program.

Gillian Lungley is a Managing Director at Credit Suisse in the Chief Operating Officer Corporate Function based in London. Ms. Lungley is Global Head of Operations IT, covering cash and liquidity management, trade validation and control, client assets and clearing.

Leslie Tay, located in Singapore, oversees global FX, rates and derivatives market making and trading for United Overseas Bank Ltd. In addition, he heads the global short-term interest rates arbitrage book for the bank.  Mr. Tay is also member of the Singapore division of the ACI Financial Markets Association.

Sara Wardell-Smith joined Wells Fargo in 1995. Ms. Wardell-Smith is globally responsible for the Foreign Exchange & International Treasury Sales and Trading Division. She is also a member of the U.S. RMB Working Group, which aims to identify, evaluate and recommend opportunities to develop and expand the trading, clearing and settlement of the RMB in the U.S.

“I am delighted that Jennifer, Gillian, Lesley and Sara are joining the CLS Board,” said Ken Harvey, CLS Board Chairman. “Their combined expertise and knowledge of the global foreign exchange market will provide valuable counsel to CLS in critical areas such as operations, technology and risk management.”

David Puth, CEO of CLS, added,

Their collective insight and experience, drawn from years of financial industry experience, will support CLS in the ongoing delivery of our strategy as we continue to seek new opportunities to mitigate risk and provide value for our members and the global FX market.

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CLS adds State Street and Credit Suisse executives to its Board of Directors

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