CLS Appoints Central Banker as CEO

Foreign exchange market infrastructure group CLS has appointed a former European Central Bank director as its new chief executive.

CLS tapped Marc Bayle de Jessé, a director general for market infrastructure and payments and chairman of the Market Infrastructure Board at the ECB, to be chief executive officer. His appointment is effective as of December this year. 

Bayle de Jessé spent 22 years at the ECB, from 1997, and has held a variety of senior positions at the central bank. As the director general for market infrastructure, he was responsible for defining and implementing market infrastructure and payment policies. He also oversaw the development of services around the challenges of digitization, globalization and cybersecurity threats on market infrastructure. Bayle de Jessé was also chairman of the European System of Central Banks Market Infrastructure and Payments committee, where helped to develop regulations and standards.

Prior to his role at the ECB, he was a senior advisor at French central securities depository Sicovam SA, which is now part of Euroclear.

Bayle de Jessé replaces David Puth, who stepped down as CEO of CLS in September 2018.