He was previously Managing Director and Head of Global Management Services at Deutsche Bank. Until April he was also non-executive Chairman of CLS Services Ltd. and a non-executive Director of CLS Group.

Peter Slater's appointment is the final stage of the succession plan first announced by CLS Group on 29 April 2005, which involves Rob Close becoming Chief Executive Officer of CLS Group and President and Chief Executive Officer of CLS Bank International (CLS Bank) in January 2006. To ensure a smooth and orderly handover of responsibilities, Peter will join CLS Group in September.

"CLS Group is very pleased that Peter Slater has agreed to succeed Rob Close," commented Mark Garvin, Chairman of CLS Group and CLS Bank. "We wanted to secure the highest possible calibre successor to Rob, and in Peter I believe we have succeeded. Peter has already made a significant contribution to CLS as Chairman of CLS Services Ltd. and as a Director of the CLS Group. The company faces many exciting challenges in the years ahead, most notably in relation to the potential implementation of new enhancements to the CLS service. I believe that Peter will provide us with the vision and expertise to ensure that we continue to meet the strong expectations of all our stakeholders."