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CLS hires Zschach as chief information officer

31 July 2014  |  4098 views  |  0 Tom Zchach, CLS CIO

FX risk reduction utility CLS has hired Tom Zschach as its new chief information officer, taking over the reins from former incumbent Sankar Aiyar, who unexpectedly quit the unit in March, midway through a major IT upgrade.

Zschach joins CLS from LCH.Clearnet, where he was CIO for three years and led the technology function through a major business transformation programme. He has also held various senior technology roles at Bank of America Merrill Lynch, Barclays Capital and Credit Suisse First Boston.

Zschach will pick up where he left off at LCH.Clearnet as CLS continues to work on a major infrastructure programme that is set to run until 2016.

David Puth, chief executive officer at CLS, says: "I am extremely pleased to have Tom join the CLS team. His extensive experience leading both investment banking and clearing house technology businesses will serve CLS very well in the years ahead."

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