CLS Group, a provider of risk mitigation and operational services, has appointed Alan Marquard as the newest head of its Corporate Strategy and Development division. He steps into the role with immediate effect, according to a CLS statement.

In his new role in CLS’ Corporate Strategy and Development division, Mr. Marquard will be reporting to David Puth, the group’s Chief Executive Officer (CEO), whilst being based out of London. CLS’ Corporate Strategy and Development division was created specifically to help calibrate and align the company’s Product and Relationship Management teams, which now operate in tandem within CLS’ broader global growth strategy.

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Mr. Marquard will formally serve as CLS’ Chief Strategy and Development Officer, where he will help manage all aspects and channels of the group’s corporate strategy, planning, product development – he is also responsible for CLS’ activities in Asia. Despite the new appointment, he will also be retaining his role as General Counsel and representative for all legal matters to CLS’s Executive Management Committee and the CLS Group Board.

According to David Puth, in a recent statement on the appointment: “The Corporate Strategy and Development division will allow CLS to use its resources more effectively. We have a number of new risk mitigation initiatives underway to enhance the safety and security of the global FX market. This development ensures we are better positioned to achieve our key strategic goals, engage with the market about new product initiatives and expand participation in CLS.”

“Alan’s legal and business background, combined with his in-depth understanding of the FX market, makes him an excellent candidate to lead this new division. He has played an integral role in defining CLS’s strategy, and I look forward to working more closely with Alan and his team as CLS embarks on this new stage of growth,” he added.

CLS recently made headlines after it reported its volumes and aggregation services data for January 2016, which had successfully reversed a recent downtrend that had afflicted the exchange since August 2015.