CLS has appointed Thomas Barkhuff as its new CIO.

Reporting to CEO, Marc Bayle de Jessé, Tom will oversee CLS's technology and information security strategy and operations. He will be responsible for ensuring the continued delivery of stable, resilient and effective IT services, applications and infrastructure.

Tom joins CLS from IT and business consulting services firm CGI, where he was CTO of the Finance and Insurance Group, responsible for leading the global software engineering team and overseeing numerous finance and insurance products. In his nearly 30 years of working in financial services, he has held two CIO roles at TD Bank Group. Previously he was a Senior Technology Executive for Bank of America.

CLS's previous CIO, Tom Zschach, left in October 2019 and is now Chief Innovation Officer at SWIFT.

“A robust technology platform has always been at the core of CLS, both for our settlement services and now CLSNet. Tom will oversee the continued implementation of CLS's multi-year programme to deliver a single platform supporting CLSSettlement, CLSNow and CLSClearedFX as well as the further development of CLSNet," said Marc Bayle de Jessé, CEO of CLS.

“As the FX market continues to undergo structural and regulatory change, technology plays a crucial role in the evolution of market infrastructures. CLS has successfully adopted existing and new technologies to bring innovative solutions to the FX industry in settlement, processing and data. In partnership with the Technology division, I look forward to further developing our infrastructure to support our clients and the market," said Thomas Barkhuff.