21 May 2020

CLS, a market infrastructure group delivering settlement, processing and data solutions, is pleased to announce that three new members were appointed to its Board of Directors at the CLS Annual General Meeting (AGM) on 11 May 2020.

The new directors on the Board are Karen Keenan (Independent Director), John Trundle (Independent Director) and Naoto Nakamura (MUFG).

Karen Keenan: Ms. Keenan is a C-suite executive with over 30 years of experience who recently retired as the Chief Administrative Officer of State Street Corporation, where she led key cross-enterprise initiatives including oversight of its end-to-end technology and operational resiliency program and business line risk management.

John Trundle: Mr. Trundle is the former Chief Executive Officer, member of the Board of Directors and Chair of the Management Committee for Euroclear UK & Ireland. Prior to this, Mr. Trundle was the Chief Risk Officer and a Managing Director for Euroclear SA/NV. He also held several positions at the Bank of England, most recently as the Head of the Business Continuity and Financial Market Infrastructure Divisions.

Naoto Nakamura: Mr. Nakamura is currently Managing Director, Global Head of FX & Local Markets Trading, and Co-Head of Global Markets Sales and Trading Division at MUFG, where he is responsible for the FX business globally. He is also Chair of the Tokyo FX Market Committee and Forex Club, Japan. Mr. Nakamura’s career in global markets has spanned across Tokyo, London and New York where he has held key roles in FX business and treasury including investment, liquidity and funding.

The CLS Board now comprises 20 directors in total, eight of whom are designated as Outside or Independent Directors.

Ken Harvey, Chairman of the Board at CLS: “We are very pleased to welcome Karen, John and Nakamura san to our Board. These board appointments will contribute crucial guidance to ensure we remain at the forefront of a dynamic market environment. Their unique perspectives will be helpful in understanding the challenges facing market participants today and how we - as a systemically important financial market infrastructure - can provide additional value for our clients and the broader market. Their collective knowledge, experience and leadership in financial services will be invaluable to CLS, and I look forward to working with them.”

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