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Foreign Exchange

CLS appoints new chief

CLS, the FX industry’s settlement system, has announced the appointment of a new interim executive chairman.

Gerard Hartsink, who has been the independent non-executive chairman of CLS since April 2010 and a member of the board of directors since 2002, will take on responsibility for the day-to-day operations and management of the firm. Hartsink replaces Alan Bozian, who has been chief executive at CLS since 2010 and who will leave the firm at the end of April.

“This is an important time for CLS, as it faces new challenges as a consequence of the changing regulatory and industry landscape,” says Hartsink.

“The board and I would like to thank Alan for his hard work and dedication in completing the initial phase of our transition, and I am both keen and committed to keep that momentum going.”

CLS is searching for a permanent replacement for Bozian.

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