CLS Group Taps Tom Zschach as Its Newest Chief Information Officer

CLS Group, a multi-currency cash settlement system for the global Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term market, has selected Tom Zschach as its newest Chief Information Officer, who is slated to join the group September 1^st in London.

As one of the world’s largest comprehensive networks for Forex, CLS Group has established itself as one of the premier nexus’ for Forex settlement transactions and risk. In his new role, Mr. Zschach will be based out of London where he will help manage the group’s technology functions and continue to foster its technological vision in the Forex industry – furthermore, Mr. Zschach will be added to the Executive Management Committee.

Mr. Zschach joins CLS Group from LCH.Clearnet where he served as CIO since 2011. Prior to this role, he also worked as Managing Director at Bank of America Merrill Lynch, preceded by Barclays Capital. Mr. Zschach has also held senior management positions at Credit Suisse and Lehman Brothers.

According to David Puth, Chief Executive Officer at CLS, in a recent statement on the appointment, "I am extremely pleased to have Tom join the CLS team. His extensive experience leading both investment banking and Clearing House Clearing House A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e Read this Term technology businesses will serve CLS very well in the years ahead."