CLS, a financial market infrastructure delivering settlement, processing and data solutions across the global foreign exchange ecosystem, has appointed Gottfried Leibbrandt and MUFG Bank’s Shuta Okawara to its board of directors.
Leibbrandt is the former CEO of SWIFT, a role he held from 2012 to 2019. Prior to this, he held several roles within SWIFT, including head of marketing, head of standards and director of strategy and business development.
Before joining SWIFT, Leibbrandt was a partner with McKinsey & Company, focusing on financial institutions, specifically payments and transactions.
Meanwhile, Okawara is currently managing director and head of the transactions services division of MUFG Bank. His career has revolved extensively around custody and clearing.
CLS says he has been involved in most of the settlement systems reform initiatives that have led to mitigating settlement risks and standardising securities and currencies settlement processes as we know them today.
Both directors will be joining the technology and operations committee, while Leibbrandt will also be joining the product development committee. The CLS board now comprises 21 directors in total, nine of whom are designated as outside or independent directors.
Ken Harvey, chairman of the board at CLS, says: “We are delighted to welcome Gottfried Leibbrandt and Shuta Okawara to our board. Their specific experience in and knowledge of payments, transactions and settlement systems relate closely to CLS’ core focus and will be invaluable to us as an organisation as well as our members and other relevant stakeholders.”
“We look forward to working with them as we continue to develop our role as a systemically important financial market infrastructure, strengthening resilience and efficiency across the global foreign exchange ecosystem,” Harvey adds.
