CLS Secures Thomas Berkery as Independent Director

CLS Group, a US-based financial institution, providing Settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term services across the foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (FX) market, has added a new member to its Board of Directors with Thomas Berkery being elected as a new independent (outside) director.

According to the statement, Berkery was elected to the board on October 16, 2018. In addition to being a member of the firm’s board, he will also sit on the company’s Audit and Finance Committee.

During his career, Berkery has gained nearly four decades worth of experience in finance and operations. In this time he has managed to accrue a lot of experience in positions on the Audit Committees and Board of Directors of Fortune 50 multinationals on acquisitions and divestitures, regulatory matters, technology and more.

Most recently, he was working at PricewaterhouseCoopers, a multinational professional services network, before he retired. While at the firm, Berkery was a Senior Partner and the Global Engagement Leader and Audit Signing Partner. In this role, he was responsible for providing financial advice as well as managing PwC’s relationship with large clients.

Before this, Berkery was in charge of managing PwC’s Assurance and Business Advisory in the New York Metropolitan region. In this role, he ensured audit quality, determined partner deployment and achieved financial goals.

Commenting on the appointment, Ken Harvey, Interim CEO at CLS, said: “We are delighted to welcome Tom to the Board. His wealth of experience in audit and regulatory matters is highly complementary to CLS’s position as a trusted financial market infrastructure and the role it plays in mitigating risk in the financial system.”

Thomas Berkery to help CLS navigate the changing FX market

Prior to working at PwC, Berkery was also the Chief Operating Officer for Global Markets and Investment Banking at Bank of America. Here, he was responsible for strategic and financial planning for the firm. In addition, he also was in charge of equity and debt research, operations and financial control and more.

Rick Sears and Bryan Osmar, Co-Deputy Chairmen added: “with decades of experience working with large, complex, global organizations across the financial industry, Tom brings invaluable expertise to the Board. We look forward to his contributions to the direction and oversight of CLS as it continues to help clients navigate the changing FX market.”