Board of directors

Kenneth Harvey

Director and Interim Chief Executive Officer

Kenneth Harvey was elected as Chairman of the Boards of CLS Group Holdings AG and CLS Bank International in October 2014; he has served as an Outside (Independent) Director of CLS Group since December 2011. He has been acting as Interim CEO since October 2018.

Kenneth Harvey was elected as Chairman of the Boards of CLS Group Holdings AG and CLS Bank International in October 2014; he has served as an Outside (Independent) Director of CLS Group since December 2011.

Prior to joining the Board of CLS Group, Mr. Harvey was Group Managing Director for HSBC Holdings in which capacity he was responsible for all operations and technology, comprising over 100,000 professionals in nine operating companies and five technology companies. HSBC owns and operates one of the largest shared services organizations in the financial services industry.

Mr. Harvey was the primary architect of the operation. Mr. Harvey currently serves on the board of Amber Road, a leader in Global Trade Management solutions, which in 2014 successfully transitioned from a private company to a publicly traded corporation. He also serves as vice chairman of the board of InsPro, a market leader in software for the Health, A&H, Life and Annuity segment of the insurance industry, and as a member of the Senior Advisory Board of Oliver Wyman, a leading global consulting firm. Previous board service includes Kanbay Inc. and Vertical Networks.

Mr. Harvey holds a Bachelor of Science degree from DePaul University and is a graduate of Northwestern University National Trust School.

Bryan Osmar

Director and Interim Co-Deputy Chairmen of the Board of CLS Group Holdings AG and CLS Bank International

Former Managing Director and Head of Market Infrastructure – Royal Bank of Canada

Until his retirement in 2015, Mr. Osmar served as Managing Director and Head Market Infrastructure at Royal Bank of Canada based in Toronto for 30 years and New York for five years. Mr. Osmar was also responsible for implementing RBC Capital Markets regulatory reform initiatives in a range of regulatory areas and jurisdictions notably including the reforms in the Global OTC derivatives space. Mr. Osmar is a former Director of Currency Exchange International Corp and Exchange Bank of Canada. He received a Bachelor of Arts degree in Economics from the University of Western Ontario in 1979 and subsequently earned a Master of Arts degree in Economics from Queens University in 1981.

Rick Sears

Director and Interim Co-Deputy Chairmen of the Board of CLS Group Holdings AG and CLS Bank International

Chief Administrative Officer, Markets and Business Manager, Macro & Global Distribution - Barclays Capital UK

Mr. Sears is currently the Chief Administrative Officer, Markets and Business Manager, Macro & Global Distribution, at Barclays Capital UK. Prior to Barclays, Mr. Sears was with FXMarketspace Ltd. as President and Chief Sales Officer. Prior to FXMarketspace, he held the position of Managing Director - Foreign Exchange at the Chicago Mercantile Exchange. Mr. Sears completed his undergraduate work in Economics at Wheaton College and received a Masters of International Management from The American Graduate School of International Management. He also completed executive programs at the University of Chicago and Northwestern University.

Thomas Berkery

Former Global Engagement Leader and Audit Signing Partner - PriceWaterhouseCoopers.

Thomas Berkery is an Outside (independent) Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International. Mr. Berkery served as the Global Engagement Leader and Audit Signing Partner at PriceWaterhouseCoopers where he was in charge of providing financial advice and managing the firm’s relationship with large, multinational clients. Previously, he was the Managing Partner responsible for the firm’s Assurance and Business Advisory practice in the New York Metropolitan region. Mr. Berkery was also Chief Operating Officer for Global Markets and Investment Banking at Bank of America with responsibility for strategic and financial planning, equity and debt research, operations and financial control, investments/acquisitions and infrastructure support from 2004 through 2007.

Former Global Engagement Leader and Audit Signing Partner - PriceWaterhouseCoopers.

Vincent Bonamy

Managing Director, Head of Global Intermediary Services GFX – HSBC Global Markets

Vincent Bonamy is currently Managing Director, Head of Global Intermediary Services GFX – HSBC Global Markets based in London. In his role, Mr. Bonamy is responsible for the creation and development of GFX Services in the FX market.

Prior to joining HSBC, Mr. Bonamy spent over 20 years with Societe Generale, during which time he was exposed to a number of business functions.  He spent seven years as an auditor of Societe Generale’s fixed income sales and trading and capital market activity.  In 2001, he was made Managing Director and Head of the Front Office of Newedge Americas, during which time he managed a prime brokerage and FX execution function consisting of 200 brokers.  In 2007, Mr. Bonamy promoted to Head of FIC Americas (Rate, EM, TX and Credit) and Trading and Sales, managing over 100 traders and support staff in rate trading and sales (swaps, swaptions, UST and Agencies).  During this period, Mr. Bonamy served as the primary contact for this business with the US Federal Reserve Bank.

Mr. Bonamy holds a Business Degree from ESSEC as well as a Masters in both Economics and Law from the University of Paris. 

Gerard Brady

Global Chief Information Security Officer – Morgan Stanley

Gerard Brady is the Global Chief Information Security Officer for Morgan Stanley (the “Firm”).

He serves on the Fraud Risk Operating Committee (FROC), the Cybersecurity and Information Security Governance Committee (CIGC), Morgan Stanley Wealth Management’s Online Security & Risk Steering Committee, and the Technology and Operations Committees for Morgan Stanley Private Bank, North America, and Morgan Stanley Bank, N.A. In addition, he chairs the Firm’s Cybersecurity and Information Security Working Group (CIWG).  Mr. Brady reports to the Firm’s Chief Information Officer of Technology & Information Risk, Matthew Chung.

Mr. Brady joined the Firm in 2005, serving as the Firm’s Global Head of IT Security prior to assuming his current role as Global Chief Information Security Officer in 2012.  Before joining the Firm, he served as the Head of Enterprise Security Software and Head of Emerging Technologies for Internet Security Systems and as the Chief Security Officer and Chief Technology Officer for Guardent (A Verisign acquisition).  Earlier in his career, Mr. Brady held officer-level positions in Information Security, Cybersecurity, and Technology at such companies as Prudential, JP Morgan, and Bankers Trust.

Mr. Brady has external roles including serving on the Board of Directors of the Financial Systemic Analysis & Resilience Center (FSARC). He is a frequent speaker on the topic of cybersecurity in industry, client, and internal forums. Mr. Brady holds a security clearance with the US government and is responsible for the Firm’s relationship with the US Government as it relates to cybersecurity.

Jennifer Buonopane

Senior Managing Director and Chief Operating Officer – Global Markets – State Street Corporation

Jennifer Buonopane is a Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Ms. Buonopane, located in Boston, MA, is Senior Managing Director and Chief Operating Officer of State Street Global Markets. Ms. Buonopane is directly accountable for operating performance and leadership of more than 350 employees as well as operations, onboarding, middle office and project management infrastructure for SSGM, world-wide. She joined State Street in 2007 as part of the acquisition of Investors Financial Services. Since joining State Street, she has taken on positions of increasing responsibility within Global Markets, including leadership of its global transformation program. Prior to her tenure with State Street, Ms. Buonopane spent 10 years at Fleet Boston Financial. Ms. Buonopane received her Bachelor of Science Degree in Business Administration from Wagner College, Staten Island, NY.

David Gary

Managing Director - Head of FX Trading North America – Deutsche Bank

David Gary is a Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Mr. Gary is currently the Head of FX Trading North America for Deutsche Bank’s Foreign Exchange business. He joined the Bank in 2007. Prior to his current role, Mr. Gary has held several senior trading and risk management roles including Head of FX Derivatives Trading for North America at Deutsche Bank and Co-Head of U.S. Fixed Income Derivatives Trading at Bankers Trust. Mr. Gary served as Co-Chair of Deutsche Bank’s FX Settlement Governance Forum and played a leading role in addressing the Supervisory Guidance for Managing Risks Associated with the Settlement of Foreign Exchange Transactions published by the Basel Committee on Banking Supervision in February 2013. Mr. Gary graduated from the University of Pennsylvania in 1983 with a BS degree in Economics from the Wharton School with a major in Finance and a BA degree in Economics.

Peter Healey

Managing Director and Global COO – FX, Rates and Credit - UBS

Peter Healey is a Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Originally based in London and currently located in Switzerland, Mr. Healey has been with UBS since 1994, during which time he has held several positions of increasing responsibility within the FX, Rates and Credit business. Mr. Healey has held his current position, Chief Operating Officer, FRC since 2007, and in this role, his responsibilities span multiple aspects of business planning, strategy formation and implementation, front-to-back processes across all logistics and control functions, oversight of strategic change (including responding to regulatory changes) and the management of operational risk/audit and other operational issues. Mr. Healey has oversight responsibility for several significant front to back change and remediation programs and is frequently leading and participating in business / operating model discussions, technical design, vendor selection and management, program resourcing and delivery. Mr. Healey also serves as the UBS vendor relationship manager for Thomson Reuters, and in this role, serves as commercial lead on the team negotiating all major contracts between UBS and Thomson Reuters. Mr. Healey has qualifications from the Chartered Institute of Management Accountants and HND in Medical Laboratory Sciences. He is also a former member of the Board of ISDA (2010-2014).

Akira Hoshino

Senior Fellow & General Manager, Global Markets Trading Division – MUFG Bank, Ltd.

Akira Hoshino is a Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Mr. Hoshino is currently the Senior Fellow & General Manager at MUFG Bank, Ltd. in the Global Markets Trading Division based in Tokyo. He joined the bank in 1989. Before assuming the General Manager role in 2016, he held the position of Senior Fellow & General Manager, Treasurer in the Global Markets Division for the East Asia Region and several additional roles in Foreign Exchange. Mr. Hoshino graduated in 1989 with a Law Degree from Hitotsubashi University located in Tokyo, Japan. He currently serves as Chairman of the Tokyo Foreign Exchange Committee and has served on the Board of the Treasury Markets Association in Hong Kong and the The GFMA Global FX division.

Dominique Le Masson

Senior Coordinator for European Market Infrastructures – BNP Paribas Group

Dominique Le Masson is a Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Ms. Le Masson is currently the Senior Coordinator for European Market Infrastructures at BNP Paribas Group based in Paris. Ms. Le Masson is a member of a major infrastructure advisory group at National Central Bank and European Central Bank level in addition to major CCPs where she represents the BNP Paribas Group as a whole. She is also strongly involved in clearing evolution, especially for fixed income, repurchase agreements, over-the-counter FX and swaps in Europe, Asia Pacific and the US. Before assuming the Senior Coordinator role in March 2017, Ms. Le Masson held several other roles including Head of Central Treasury at ALM Treasury and was a member of the Comex of BNP Paribas Group ALMT. Ms. Le Masson has spent most of her career with the Bank and since 1983 has held various roles related to financial markets, including as an FX Swap Trader, before joining the ALM Treasury as a USD treasurer and then becoming Deputy Head of Central Treasury. Ms. Le Masson graduated in 1981 from Ecole Supérieure de Commerce de Paris(ESCP).

Ericka Leslie

Global Head of Regulatory Operations, Derivatives and Clearing Operations - Goldman Sachs

Ericka Leslie is a Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Ms. Leslie, located in New York, joined Goldman Sachs in 1996, during which time she has held several roles in Finance, Risk Management and Operations. Ms. Leslie was named Global Head of Derivative Operations in 2010. She is responsible for implementing operational strategy and maintaining regulatory compliance across Goldman’s securities businesses for all asset classes. She is also responsible for implementing operational flows for new products and markets. Prior to her current role, Ms. Leslie was lead architect of the risk management framework deployed in Goldman’s Operations Division. Before joining Operations, Ms. Leslie had responsibility for the technology supporting Goldman’s FX trading, sales and e-dealing activities. Ms. Leslie received her undergraduate degree in Accounting, in 1993 from the State University of New York – Albany, and is also a New York State Certified Public Accountant. Previous board service has included DTCC Deriv/Serv, providing infrastructure solutions to the global derivatives market, on which Ms. Leslie served as a member of the DTCC Deriv/Serv Audit and Nominations Committees.

Gilbert Lichter

Former Chief Executive Officer - EBA CLEARING

Gilbert Lichter is an Outside (Independent) Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Mr. Lichter served as the Chief Executive Officer of EBA Clearing, which is the Operator of two SIPS – EURO1, the private-sector owned large-value payments system, and STEP2, the pan-European ACH for SEPA payments until his resignation in April 2015. In addition, Mr. Lichter is the Secretary General of the Euro Banking Association (EBA), an organization which he has been involved with for over twenty years. EBA was founded in order to manage the ECU Clearing System in partnership with the Bank for International Settlements. As it developed, EBA has provided payment systems for the euro and served as a forum for pan-European payments industry issues. Mr. Lichter also served on the Managing Board of CEDEL S.A. from 1989 through 1992. He began his professional career in 1978 with Banque Internationale à Luxembourg. He received a degree in business administration from the University of Saarbrϋcken, Germany.

Gillian Lungley

Managing Director, IT Group Operations, Global Head of Trade Validation, Asset Protection, Cash and Liquidity Management, and Clearing Operations IT – Credit Suisse

Gillian Lungley is a Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Ms. Lungley is a Managing Director at Credit Suisse in the Chief Operating Officer Corporate Function, based in London. Ms. Lungley is Global Head of Operations IT, covering Cash and Liquidity Management, Trade Validation and Control, Client Assets and Clearing. She is responsible for the delivery of IT to the Trade Validation, Asset Protection, Cash and Liquidity Management and Clearing Group Operations business. Prior to joining Credit Suisse, Ms. Lungley held several positions in the Global Technology and Operations function at Deutsche Bank. Ms. Lungley received her Bachelor’s Degree in Business Studies from Trent Polytechnic and completed her MPhil in Business Studies from Trent Polytechnic/Universitat Gesamthochschule, Paderborn, Germany.

Bruce Nolop

Former Chief Financial Officer - E*TRADE Financial Corporation

Bruce Nolop is an Outside (Independent) Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Until his retirement in 2011, Mr. Nolop served as Executive Vice President and Chief Financial Officer of E*TRADE Financial Corporation. From 2000 to 2008, Mr. Nolop was Executive Vice President and Chief Financial Officer of Pitney Bowes Inc. and from 1993 to 2000, was a Managing Director of Wasserstein Perella & Co. Previously he held positions with Goldman Sachs, Kimberly-Clark and Morgan Stanley. Mr. Nolop is currently a Director of Marsh & McLennan Companies, Inc., TEGNA Inc., and On Deck Capital, Inc. He received a Bachelor of Arts degree in political science from the University of South Dakota and subsequently earned a Masters of Business Administration from the Stanford Graduate School of Business and a Juris Doctor from Stanford Law School.

William Stenning

Managing Director, Clearing, Regulatory & Strategic Affairs, Investment Bank Directorate – Societe Generale Global Banking and Investor Services

William Stenning is a Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Mr. Stenning is currently Managing Director, Clearing, Regulatory & Strategic Affairs within the Investment Bank Directorate at Societe Generale Global Banking and Investor Services. Mr. Stenning’s role includes close collaboration with senior line management across the firm, including the house FX business and the Prime Services franchise, on all regulatory, clearing and market infrastructure related matters. Mr. Stenning began his career in banking as a business manager for FX & Rates at Chase Manhattan, prior to spending nearly a decade working in market infrastructure at both SwapsWire and, subsequently, DTCC. Mr. Stenning graduated in 1991 with a degree in electronic and electrical engineering from the University of Surrey and has been a member of the Institute of Chartered Accountants in England and Wales for over 20 years. He currently serves as the Societe Generale delegate on a number of Industry Association advisory bodies including membership of the ISDA Clearing Risk and Capital Committee, ISDA Market Infrastructure & Technology Oversight Committee and the BBA Wholesale Policy Committee.

Robert Stolte

Managing Director

Bob is currently the head of technology for a number of businesses and functions at JPMorgan’s Commerical and Investment Bank including: Equities, Prime, Global Clearing, Markets Risk and PnL Reporting, Derivatives and FX Processing, Securities Processing, and Reconciliations.

Prior to moving to Equities in early 2016, Bob was running a cross business team driving the adoption of an internally developed trading risk management platform, Athena, across Rates, Credit, FX, Commodities and a number of other businesses and firmwide functions.

From 2006 through 2014 Bob was responsible for technology for Global Commodities. He was part of the team that grew JPMorgan’s Commodities business through both organic expansion and through a series of acquisitions most notably the purchase of Bear Energy in 2008, assets of UBS Commodities in 2009 and RBS Sempra Commodities in 2010. He was also a key part of the team that divested the physical energy business in 2014.

Bob joined Chase as a graduate in 1996 and for the first decade of his career performed a number of roles in both NY and London across wholesale and investment banking technology.

Fabrizio Tallei

Head of FX and International Money Market – Treasury – Intesa Sanpaolo Spa

Fabrizio Tallei is a Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Mr. Tallei is currently Head of FX and International Money Market at Intesa Sanpaolo Group Treasury in Milan, Italy. Mr. Tallei coordinates the activity in assets/liabilities denominated in foreign currencies assuring an effective management of the associated FX, liquidity and interest rate risks. Mr. Tallei advises the CFO on the evolution of the FX market and settlement systems and on the impact of new regulations at the Group level. Prior to assuming this role he covered different positions in the Treasury area, beginning as a trader of Italian Lira interest rate derivatives at Banca Commerciale Italiana. Mr. Tallei graduated in Business Administration from Universita’ Bocconi, Milan and completed a banking executive program at INSEAD, Paris. He is a member of Italian Assiom-Forex and former secretary of Euribor-ACI Derivatives Working Group. Mr. Tallei is currently the EBF/ABI delegate to the STEP Market Committee, the initiative managed by the European Money Market Institute promoting the Euro Short Term Paper market.

David Thomas

Chief Executive Officer – Royal Bank of Canada Capital Markets Europe

David Thomas is a Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Mr. Thomas is currently the Chief Executive Officer at Royal Bank of Canada (“RBC”) Capital Markets Europe responsible for leading all aspects of the business in the region including strategy execution and effective governance. He joined RBC Capital Markets in 1992. Mr. Thomas is a member of the RBC Capital Markets Global Operating Committee and the European Executive Committee and chairs the European Operating Committee. Mr. Thomas also holds a number of UK board roles including Executive Director of RBC Europe Limited and Chairman of RBC Global Asset Management (UK) Limited. Mr. Thomas graduated in 1988 with a BSc (Hons) degree from Loughborough University in the UK. He is currently a member of the Corporate Partnerships Board for Great Ormond Street Hospital.

Sara Wardell-Smith

Global Head of Foreign Exchange Division (Sales and Trading) & International Treasury – Executive Vice President, Wholesale Banking – Wells Fargo N.A.

Sara Wardell-Smith is a Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Ms. Wardell-Smith, located in San Francisco, CA, joined Wells Fargo N.A. in 1995, during which time she has held several roles in the Foreign Exchange Division. Ms. Wardell-Smith was named Global Head of Foreign Exchange Division (Sales & Trading) and International Treasury – Executive Vice President in 2007. She is globally responsible for the Foreign Exchange & International Treasury Sales and Trading Division, successfully navigating the highly-dynamic regulatory environment and adjusting business strategy to ensure continued success and industry out-performance. Prior to her current role, Ms. Wardell-Smith was Global Head of Foreign Exchange Sales, responsible for consumer, corporate and institutional FX sales, and quantitative research/risk management team. Ms. Wardell-Smith received her Bachelor of Science Degree in International Financial Economics from the University of San Francisco, CA. Ms. Wardell-Smith is a Board Member of the Global Foreign Exchange Division, part of the Global Financial Markets Association. Additionally, she is a Working Group Member of the U.S. RMB Working Group, a group that aims to identify, evaluate, and recommend opportunities to develop and expand the trading, clearing, and settlement of the RMB in the U.S.

Jason Vitale

Global Chief Operating Officer, Foreign Exchange & Head of Client Execution Services – Bank of New York – Mellon

Jason Vitale is a Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Mr. Vitale is currently the Global Chief Operating Officer, Foreign Exchange & Head of Client Execution Services with Bank of New York – Mellon. Prior to joining BNY Mellon, Mr. Vitale was Co-Head of Listed Derivatives & Markets Clearing EMEA for Deutsche Bank. During his 13 years at DB, Mr. Vitale held numerous Fixed Income leadership positions across listed derivatives (futures), Foreign Exchange & Fixed income financing. Prior to his tenure with Deutsche Bank, Mr. Vitale spent two years in New York with International Fund Services, a State Street Company. Mr. Vitale is a founding committee member of the U.S. Commodity Futures Trading Commission (CFTC) Global Markets Advisory Committee for Foreign Exchange Markets (FEM), appointed by CFTC Commissioner Mark Wetjen in 2014. Mr. Vitale completed his undergraduate work in Finance at the University of Arizona, and studied abroad at Cambridge University (UK).

Ronnie Yam

Regional Chief Financial Officer, Managing Director – United Overseas Bank (“UOB”) Limited

Ronnie Yam is a Director of the Board of CLS Group Holdings AG and also serves on the Board of CLS Bank International.

Mr. Yam is currently the Regional Chief Financial Officer at United Overseas Bank Limited based in Singapore. He joined the bank in 2000. Before assuming the Regional Chief Financial Officer role in 2015, he held the positions of Country CFO - UOB China and Country CFO – UOB Malaysia. Mr. Yam is a member of the UOB Group Investment Committee, Data Management Working Committee and the Talent Management Council. Mr. Yam is a fellow of the Association of Chartered Certified Accountants and has attended the Singapore Management University – UOB Executive Leadership Programme and the National University of Singapore – Chicago Booth Emerging CFO for Asia Programme.

Alan Marquard.

Chief Stategy & Development Officer

Alan Marquard joined CLS as Chief Legal Officer in March 2013 and was General Counsel from March 2015 to January 2017. He is based in London.

After playing a leading role in formulating CLS’s corporate strategy and having executive responsibility for the Compression business, Alan was appointed Chief Strategy and Development Officer in November 2015, with responsibility for corporate strategy and planning, product strategy and management, relationship management and Asia. Alan was appointed Chief Executive Officer of CLS Aggregation Services in December 2015. Before joining CLS, Alan spent three years at Barclays as Managing Director, General Counsel of Absa Capital, the Barclays subsidiary responsible for Barclays’ Corporate and Investment Banking in Africa, and Absa Wealth. Prior to Absa Capital, Alan held several senior roles at Dresdner Kleinwort, including ultimately Global Head of the Transaction Legal Team. In addition, Alan previously worked in legal roles at Lehman Brothers International Europe, Clifford Chance, London, and in private practice in South Africa.

Adam Levine

Head of Product Management

Adam joined CLS in 2011, and became Head of Product Management in February 2017. He is based in New York.

Adam is responsible for leading the Product team and overseeing CLS’s suite of products. He also manages and is a board member of CLS Aggregation Services LLC, a joint venture with NEX Traiana. Adam has worked closely with the executive management team on a number of strategic initiatives, including the capital raise in 2013 and the launch of the FX compression service in partnership with TriOptima in 2015. Prior to joining CLS, Adam was an associate at Clifford Chance, focusing primarily on mergers and acquisitions. Adam has a Bachelors in Finance from Washington University in St. Louis and a juris doctor and Masters in Business Administration from Duke University. Adam is admitted to the New York State Bar.

Erin McCourt

Executive Director and Global Head of Cash Management, Cash Settlements and Payment Control

Executive Director and Global Head of Cash Management, Cash Settlements and Payment Control -  Morgan Stanley

Helen Brookes

Global CAO for FX Trading and Lead EMEA Business Manager

Global CAO for FX Trading and Lead EMEA Business Manager for FXLM - Citibank