CLS has named Marc Bayle de Jessé as its new CEO, effective 2 December. He joins from the European Central Bank (ECB) where he is currently director general, market infrastructure and payments and chair of the Market Infrastructure Board.
In his current role, de Jessé is responsible for defining and steering the implementation of policies in market infrastructure and payments – a key part of which has been to oversee development of the next generation of services to address the challenges which digitalisation, cyber threat and globalisation pose to the market infrastructure and payments sector.
Hejoined the ECB in 1997 and has held a number of senior positions. As chairman of the European System of Central Banks Market Infrastructure and Payments Committee, and member of the BIS Committee for Payments and Market Infrastructure, CLS says he has contributed significantly to the development of regulations and international standards for financial market infrastructures.
Prior to the ECB, de Jessé was senior advisor in the General Secretariat at Sicovam, the French central securities depository – now part of the Euroclear Group – which manages the French securities settlement system.
“Having spent 22 years at the ECB, Marc has played a central role in revolutionising Europe’s settlement infrastructure,” says Kenneth Harvey, interim CEO and chairman of CLS. “I believe he is extremely well placed to lead CLS and maintain and grow our unique position at the center of the FX market. His extensive experience with central banks and market participants will help ensure we continue to respond to the needs of the industry, enhancing and developing our risk mitigation solutions.”
De Jessé adds, “As a leading global market infrastructure provider, CLS plays a crucial systemic risk-mitigation role in the FX industry. I am looking forward to ensuring the organisation continues to deliver the highest level of service to its clients and shareholders, as well as further expanding its capabilities as a trusted market solutions provider.”
Harvey has been interim CEO since December 2018 after previous CEO David Puth stepped down.