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Foreign Exchange

CLS hires Aiyar as chief technology officer

CLS has hired Sankar Aiyar from Citigroup as chief technology officer, a CLS spokesperson has confirmed.

At Citi Aiyar was a managing director responsible for aligning the bank’s technology priorities. He will report to CLS chief executive Alan Bozian.

Aiyar says he is delighted to join CLS, adding that he wants to help the company develop its services to meet the future needs of the rapidly evolving FX market.

“We look forward to Sankar joining the management team as chief technology officer, a new role that will be integral to the future of CLS,” adds Bozian. “Sankar’s experience of developing and executing technology strategies in the financial-services industry, coupled with his international experience, will complement our existing expertise.”

CLS Bank operates the largest multi-currency cash-settlement system to eliminate settlement risk in the FX market.

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