CLS is a US market infrastructure company that provides settlement services and a variety of data solutions. In addition, the company offers its clients processing services such as bilateral payment solutions, reporting tools and data compression.
CLS has appointed four new members to its board which are the following:
Eddie Wen: Mr. Eddie Wen started his professional career at Morgan Stanley, after which he held several stints at Merrill Lynch and Goldman Sachs, where he worked on quantitative algorithmic trading strategies. Currently, Mr. Wen serves as the J.P. Morgan’s Global Head of Digital Markets and is a Managing Director of the firm’s Markets business. His responsibilities include the delivery of digital services across all asset classes. Mr. Wen joined J.P. Morgan in 2006 as the as the Global Head of eCommerce for Macro Businesses.
Vidya Bittianda: Ms. Vidya Bittianda serves as the General Manager for Risk Analytics & Insights for Westpac Banking Corporation. Her responsibilities include: liquidity risk and market management, model risk management, risk data quality and credit modelling.Prior to that, Ms. Bittianda held several roles at ANZ Banking Group Limited, most recently as Group General Manager for Risk Metrics and Chief Risk Officer, Europe and EMEA.
Edward Sterba: Mr. Edward Sterba serves as the Senior Executive Partner in the Global Enterprise Account Division of Gartner Inc., The company is an IT advisory and research firm. Mr. Sterba’s responsibilities include: provision of advisory, consulting services and coaching services to C-Suite clients with a focus on modernization, digital strategies and information technology. Prior to that, Mr. Sterba was the Chief Information Officer of OneMain Financial, a Citigroup Company, and before his stint at OneMain Financial, Mr. Sterba was Chief Technology Officer of HSBC.
Sheryl Kennedy: Until December of 2018, Ms. Sheryl Kennedy served as the CEO of Promontory Financial Group Canada, an affiliate of the global consulting firm providing strategy, risk management and regulatory compliance advisory and managed services. From 1994-2008, Ms. Kennedy was Deputy Governor for the Bank of Canada. Currently, she is a non-executive Chair of Promontory Canada and Vice-Chair of the Canadian Public Accountability Board, the regulator of auditing of publicly traded companies in Canada.
The new four board members have different classifications. Ms. Kennedy and Mr. Sterba are classified as Independent (Outside) board directors. With the new additions, the CLS Group Board now has 23 directors, of whom 6 are Independent ones.
These are some of the comments that the management of CLS had regarding the new additions to the company’s board.
Ken Harvey, Interim CEO of CLS said:
We are delighted to welcome Sheryl, Vidya, Ed and Eddie to the CLS Board of Directors. Their extensive expertise in risk management, regulatory compliance, IT strategy and digital services complements the unique role CLS plays in mitigating settlement risk in the FX market.”
Bryan Osmar, the Co-Deputy Chairman of the Board at CLS also commented:
Collectively, these four appointments to the CLS Board bring decades of invaluable experience to ensure we continue to leverage our experience and substantial market intelligence to address the market’s wider settlement, processing and data needs.”
Co-Deputy Chairman of the CLS Board, Ericka Leslie, said:
CLS remains committed to our core mission of contributing to the safe functioning and stability of financial markets. These board appointments contribute crucial guidance as the markets continue to evolve.”