A prominent financial market infrastructure provider, renowned for managing substantial sums in Forex transactions daily, has recently augmented its board by appointing two new directors during its annual shareholder meeting held earlier this month.
These new board members bring a wealth of experience in market infrastructure and transaction services to the existing 21-member team. One of the directors joins as an independent member, while the other represents a significant stakeholder within the organization.
The newly appointed independent director has a robust background with over two decades of service at a key European financial institution, where she held a leading position overseeing operations across several countries. In her prior role, she led significant business transformations and technological advancements within the European settlement infrastructure. Currently, she contributes to another major public development bank’s governance as chair of the audit committee and is active on various committees focused on risk management and governance.
The second new appointee possesses extensive knowledge in Japanese yen transactions gained during his tenure in a leading role within the transaction services division of a major bank. His experience encompasses managing cross-border transactions including settlements and custody services. Prior to this current role, he was involved in promoting yen clearing and custody services to global clients.
The chairperson of the board expressed enthusiasm about the contributions that the new directors will make, emphasizing their backgrounds in financial services as essential for enhancing the organization’s value while navigating the challenges within the Forex industry.
The expansion of the board to 21 directors includes eight independent outside members, reflecting the infrastructure’s role as a market utility owned by significant global banks while maintaining a substantial degree of independent oversight.
The financial institution is designed to mitigate settlement risks in the foreign exchange markets, processing settlements for a wide variety of currencies and facilitating payment flows that amount to trillions daily. This organization was established in the late 1990s specifically for this purpose and now handles substantial daily trading volumes, which statistics indicate exceed $7 trillion.
The recent board appointments align with the company’s strategic direction to extend its offerings beyond core settlement services. The organization intends to leverage its central position within global Forex transactions to provide invaluable market intelligence and risk management tools to financial firms. By doing so, it aims to enhance its data and analytics services, thereby better supporting the needs of clients in an increasingly complex trading environment.
Through these new additions to the board, the organization is poised to tackle the evolving challenges of the foreign exchange landscape, ensuring that it remains a pivotal player in the financial market infrastructure sector.