Gilbert Lichter elected to CLS Group Board of Directors

FX market infrastructure provider CLS Group (CLS) has announced that its shareholders elected Gilbert Lichter to serve as an Outside Director on the CLS Group Holdings Board of Directors, effective 1 January 2015.

Mr. Lichter, based in Paris, is Chief Executive Officer of EBA Clearing, operator of two systemically important payment systems (SIPS): EURO1, the private-sector owned large-value payments system; and STEP2, the pan-European automated clearing house (PE-ACH) for single euro payments area (SEPA) payments. In addition, Mr. Lichter is the Secretary General of the Euro Banking Association, with which he has been involved for twenty years.

“We are very pleased to welcome Mr. Lichter to our Board,” said Kenneth Harvey, Chairman of the CLS Board of Directors. “His expertise in the European payments and clearing industries will be an important asset to CLS as we evolve in response to the changing needs of our shareholders.”

CLS CEO David Puth added: “We are very fortunate to have Mr. Lichter on the board. His extensive sector experience will be extremely valuable as we continue to foster relationships with third parties, including clearing houses, in order to further mitigate settlement risk across the FX market.”

Gilbert Lichter began his professional career in 1978 with Banque Internationale à Luxembourg and also served on the managing board of CEDEL S.A. from 1989 through 1992. He holds a degree in business administration from the University of Saarbrucken, Germany.

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