ECB Member Marc Jesse Joins CLS Group as Its Chief Executive Officer

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.


ECB Member Marc Jesse Joins CLS Group as Its Chief Executive Officer

May 31, 2019
Marc Bayle De Jesse: CEO
CLS group

As per the latest update from multinational FX risk management firm CLS group, Marc Bayle De Jesse – current Chairman of the market infrastructure and payments committee at ECB will be joining the firm as its CEO. The report stated that Marc would join CLS group at the end of the year by which time Marc is expected to terminate all his current ties and responsibilities To European Central Bank. Marc has been part of the ECB since the start of his career and has held multiple key roles of significant importance in the central bank for more than a decade. Marc joined the central bank more than two decades ago and has held multiple key roles in the bank for more than a decade now. His role in upper echelons of the bank started when Marc became Head of T2S division at ECB back in 2006 and moved on to become the T2s program’s manager and Principle adviser by 2008, a post which he held the role for a period of six years.

He was then promoted as Director General of Market Infrastructure and Payments in May 2014 a position which he held for more than 5 years and became the Chairman of Market Infrastructure board in April 2016 before taking up his current role as Chairman of Market Infrastructure and Payments Committee. Marc is bringing the firm a wealth of experience from his vast experience as a part of upper echelon at ECB. CLS group is a multi-national FX risk mitigation and settlement service provider with head office located in New York and London to ensure fast and seamless user experience for clients on both sides of Atlantic.  Marc is joining the firm to fill in the shoes of David Puth who stepped down from his role as CEO back in September 2018 post which the role has been taken care of by interim CEO and Chairman – Kenneth Harvey.

Harvey is expected to continue acting as interim CEO until Bayle takes up the role as CEO in December 2, 2019. When speaking about Marc’s appointment as CEO, Harvey was quoted saying, “Having spent 22 years at the ECB, Marc has played a central role in revolutionizing Europe’s settlement infrastructure. I believe he is extremely well placed to lead CLS and maintain and grow our unique position at the centre of the FX market. His extensive experience with central banks and market participants will help ensure we continue to respond to the needs of the industry, enhancing and developing our risk mitigation solutions”. Speaking on the same topic, Marc Jesse commented, “As a leading global market infrastructure provider, CLS plays a crucial systemic risk-mitigation role in the FX industry. I am looking forward to ensuring the organization continues to deliver the highest level of service to its clients and shareholders, as well as further expanding its capabilities as a trusted market solutions provider”.

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