CLS, a market infrastructure group delivering settlement, processing and data solutions, is pleased to announce that Thomas Berkery was elected to its Board of Directors as a new Independent (Outside) Director on 16 October 2018 and will sit on the Audit and Finance Committee.

Tom is a senior executive who brings to CLS nearly 40 years of financial and operating experience. Tom recently retired from PriceWaterhouseCoopers where he was the Global Engagement Leader and Audit Signing Partner in charge of providing financial advice and managing the firm’s relationship with large, multinational clients. Previously, he was the Managing Partner responsible for the firm’s Assurance and Business Advisory practice in the New York Metropolitan region.

Tom was also Chief Operating Officer for Global Markets and Investment Banking at Bank of America with responsibility for strategic and financial planning, equity and debt research, operations and financial control, investments/acquisitions and infrastructure support from 2004 through 2007.

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.”

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.”