European Central Bank director general to lead global FX market infrastructure
CLS, a market infrastructure group delivering settlement, processing and data solutions, today announces the appointment of Marc Bayle de Jessé as its new CEO, effective 2 December.
Marc joins CLS from the European Central Bank (ECB) where he is currently Director General, Market Infrastructure and Payments and Chairperson of the Market Infrastructure Board.
Marc brings a wealth of global market infrastructure and payments experience to CLS. In his current role, Marc 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 digitalization, cyber threat and globalization pose to the market infrastructure and payments sector.
Marc joined 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, he has contributed significantly to the development of regulations and international standards for financial market infrastructures.
Prior to the ECB, Marc was Senior Advisor in the General Secretariat at Sicovam SA, the French central securities depository – now part of the Euroclear Group – which manages the French securities settlement system.
Commenting on Marc’s appointment, Kenneth Harvey, Interim CEO and Chairman, CLS said, “Having spent 22 years at the ECB, Marc has played a central role in revolutionizing Europe’s settlement infrastructure. 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.”
Marc, reflecting on his new role said, “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 organization 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.”