CLS hires JP Morgan veteran as chief executive

clearing capital to increase

Foreign exchange settlement utility CLS has appointed David Puth as its new chief executive, effective August 21.

Puth spent 19 years of his career at JP Morgan, where he held a number of senior roles, including oversight of the bank's foreign exchange, interest rate derivatives, commodities and emerging markets businesses. He was also a member of the bank's executive committee. Between 1999 and 2002, he chaired the Federal Reserve Bank of New York's FX Committee.

Puth left JP Morgan in 2007 to

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