CLS Group, a leading provider of risk mitigation and settlement services for FX dealers and institutions, announced on Tuesday that it has hired Margaret Law as its Head of Client Management for the Asia Pacific (APAC) region.
In her new role, Law will be based in Hong Kong. She will report to the Global Head of Sales, Joe Ziccarelli. At CLS, her responsibilities will include growing the client base across the region. She will also promote the adoption of the firm’s portfolio of products, specifically the settlement, processing, and data business lines.
Before joining CLS, Law worked for the Northern Trust Corporation, a financial services provider including wealth and asset management, from February 2011 until July of this year. At the firm, Law was Head of Client Services. In this position, she managed the local sales team and helped grow client relationships throughout Hong Kong, Taiwan, and Macau.
Commenting on the appointment, Ziccarelli said: “Margaret’s experience in senior roles in the region makes her a perfect candidate for the role at CLS. She has a deep knowledge of the FX industry, as well as longstanding relationships with senior executives across the buy-side in the region. We are looking forward to Margaret continuing to drive our market penetration in the Asia Pacific region.”
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Before working at Northern Trust, Law worked for a variety of different banks including Bank of America Merrill Lynch, HSBC, Citibank and the Hong Kong & Shanghai Banking Corporation. At these firms, she worked in a number of sales leadership roles which spread across a range of asset classes.
CLS Undergoes a Major Leadership Change
The appointment of Law follows a major change in the company’s senior leadership after its long-serving CEO David Puth announced plans back in mid-September that he would resign from his role, effective September 30.
At the time, Puth said: “It has been a privilege for me to lead CLS during a transformative time for the industry. Our overall financial position is strong, which enables CLS to continue to grow while investing in the resilience of its infrastructure.
“I have every confidence in CLS’s Board of Directors and am pleased to hand over the management of CLS to the next generation of leaders. I look forward to taking on new challenges in the future, and to working closely with Ken and the broader team during this transitional period.”