David Puth joins the FRAC
David Puth, the chief executive of CLS, has been selected by the U.S. Government as one of the 11 new members of the Financial Research Advisory Committee (FRAC).
David joins a prestigious group, comprised of experts in economics, finance, financial services, data management, risk management, and information technology, which will meet next on 24 July in New York.
The committee advises the Office of Financial Research (OFR), part of the U.S. Department of the Treasury, which was established by Congress to serve the Financial Stability Oversight Council, its member agencies, and the public.
The OFR’s aim is to improve the quality, transparency and accessibility of financial data and information; by conducting and sponsoring research related to financial stability; and by promoting best practices in risk management.
“It is a privilege to have been invited to join the FRAC and I look forward to bringing my experience to bear in advising the OFR,” he said. “In particular, the knowledge I have gained during my time at CLS, now recognized both as a critical, systemically important part of the financial market infrastructure, and as a robust solution to mitigating settlement risk, will be invaluable.”
OFR Director Richard Berner said: “We are honored to have such an outstanding group of new members join our advisory committee. The committee helps us expand the perimeter of our knowledge to achieve our essential mission and these eleven new members will bring fresh perspectives to the committee’s deliberations.”
For more information about the committee, including brief biographies of members, previous recommendations and details of a public webcast of the 24 July meeting, visit www.treasury.gov/ofr.