CLS appointed four new directors to its Board of Directors at its annual general meeting (AGM) on May 7.
The new additions to the board are: Vidya Bittianda, general manager for risk analytics and insight at Westpac; Sheryl Kennedy, who until December 2018 was the CEO of Promontory Financial Group Canada; Edward Sterba, senior executive partner in the Global Enterprise Account Division of Gartner; and Eddie Wen, JP Morgan’s global head of digital markets and a managing director of the bank’s markets business.
In her current role at Westpac, Bittianda is responsible for market and liquidity risk management, credit modelling, model risk management and risk data quality. Previously, she held several roles at ANZ, most recently group general manager for risk metrics and chief risk officer for Europe and EMEA.
Prior to her departure from Promontory Financial Group Canada, an affiliate of the global consulting firm providing strategy, risk management and regulatory compliance advisory and managed services, Kennedy had been its CEO since 2009. Prior to this, between 1994-2008, she was Deputy Governor for the Bank of Canada.
Kennedy is currently a non-executive Chair of Promontory Canada and Vice Chair of the Canadian Public Accountability Board, the regulator of auditing publicly traded companies in Canada.
At Gertner, which is an IT research and advisory company, Sterba is responsible for providing advisory, coaching and consulting services to C-suite clients with a focus on IT, digital strategy and modernisation. Previously, he held the role of chief information officer of OneMain Financial, a Citigroup Company, and prior to that he was CTO of HSBC.
In his role at JP Morgan, Wen is responsible for the delivery of digital services across all asset classes. Prior to joining the bank in 2006 as global head of e-commerce for the macro businesses, he was responsible for quantitative algorithmic trading strategies in FX at Goldman Sachs.
Sterba and Kennedy are classified as outside – or independent – directors on the CLS Board, which now comprises 23 directors in total, six of whom are designated as outside directors.
Ken Harvey, interim CEO of CLS, comments: “We are delighted to welcome Sheryl, Vidya, Ed and Eddie to the CLS Board of Directors. Their extensive expertise in risk management, regulatory compliance, IT strategy and digital services complements the unique role CLS plays in mitigating settlement risk in the FX market.”
Bryan Osmar, co-deputy Chairman of the Board at CLS, adds: “Collectively, these four appointments to the CLS Board bring decades of invaluable experience to ensure we continue to leverage our experience and substantial market intelligence to address the market’s wider settlement, processing and data needs.”