CLS appoints four new directors to board

CLS, a market infrastructure group delivering settlement, processing and data solutions, is pleased to announce four new directors were appointed to its Board of Directors at the CLS Annual General Meeting (AGM) on 7 May 2019.

The new additions to the board include:

Vidya Bittianda: Ms. Bittianda is the General Manager for Risk Analytics & Insights for Westpac Banking Corporation, responsible for Market and Liquidity Risk management, Credit Modelling, Model Risk Management and Risk Data Quality. Previously, she held several roles at ANZ Banking Group Limited, most recently Group General Manager for Risk Metrics and Chief Risk Officer, Europe and EMEA.

Sheryl Kennedy: Until December of 2018, Ms. Kennedy was Chief Executive Officer 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.

Edward Sterba: Mr. Sterba is the Senior Executive Partner in the Global Enterprise Account Division of Gartner Inc., an IT research and IT advisory company. He is responsible for providing advisory, coaching and consulting services to C-Suite clients with a focus on IT, digital strategy and modernization. Previously, Mr. Sterba held the role of Chief Information Officer of OneMain Financial, a Citigroup Company, and prior to that, he was Chief Technology Officer of HSBC.

Eddie Wen: Mr. Wen is J.P. Morgan’s Global Head of Digital Markets and a Managing Director of the firm’s Markets business. He is responsible for the delivery of digital services across all asset classes. Prior to joining J.P. Morgan in 2006 as Global Head of eCommerce for Macro Businesses, Mr. Wen was responsible for Quantitative Algorithmic Trading Strategies in Foreign Exchange at Goldman Sachs.

Mr. Sterba and Ms. Kennedy are classified as Outside (or Independent) Directors on the CLS Board of Directors. The CLS Board now comprises 23 directors in total, 6 of whom are designated as Outside Directors.

Ken Harvey, Interim CEO, CLS: “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, Co-Deputy Chairman of the Board at CLS: “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.”

Ericka Leslie, Co-Deputy Chairman of the Board at CLS: “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.”