CLS Names Six New Board Directors Amid Rising Focus on FX Settlement Risk

CLS Names Six New Board Directors Amid Rising Focus on FX Settlement Risk

CLS, the financial market infrastructure group known for settlement, processing and data solutions, has made a major leadership move. CLS appoints six new Board Directors, the company confirmed, following its Annual General Meeting held on 9 June 2026.

The fresh appointments bring a wide mix of banking, technology and cybersecurity expertise to the table. The new directors are James Hardy, an independent voice with a background as Chief Resilience Officer at State Street Corporation, and Richard James, Deutsche Bank’s Head of FX Digital Distribution, who previously spent over two decades at J.P. Morgan. They are joined by Sandra Laielli van Scherpenzeel of UBS Switzerland AG, who has more than 25 years of experience in global cash management and FX settlement.

Rounding out the list are Matthieu Mercier, BNP Paribas CIB’s Global Chief Information Security Officer, Chadwick Renfro, a former CISO at Bank of America and Fidelity Investments with a background that includes Air Force cyber defence work, and Boyd Winston, JPMorgan Chase Bank’s Global Head of Macro Operations.

Commenting on the news, Gottfried Leibbrandt, Chair of the Board, said the appointments reflect how seriously settlement risk is being treated across the FX industry, noting that the directors’ combined experience in cybersecurity, operational resilience and risk management will strengthen CLS’s position. He added that the board looks forward to working with the new members as they continue supporting the global FX ecosystem.

With these additions, CLS’s Board now stands at 21 directors, eight of whom hold independent or outside status. The timing is notable, arriving as banks and infrastructure providers worldwide sharpen their focus on operational resilience and cyber risk in cross-border payments.

CLS appoints six new Board Directors at a moment when expertise in technology, security and global markets has never mattered more for institutions managing trillions in daily FX settlement volume.