CLS today announced that two new members were appointed to its Board of Directors at the CLS Annual General Meeting held on 10 June 2025.

The new directors on the Board are Brigitte Daurelle (Independent/Outside Director) and Ryo Terazawa (MUFG Bank).

Ms. Daurelle is the former CEO of Euroclear Belgium, France, Netherlands. Currently she serves as an Independent Non-Executive Director at SFIL, France’s largest public bank, where she chairs the Audit Committee and is a member of the Governance & ESG, Remuneration and Risk Committees. With a career spanning more than two decades at Euroclear, Ms. Daurelle has held several senior leadership roles, most recently as CEO & Integration Lead at MFEX by Euroclear.

Throughout her career she implemented in-depth business and operational transformations, executed product launches, integrated strategic acquisitions, steered large IT programs and led innovative change programs.

Mr. Terazawa is the Managing Director, Deputy Head of the Transaction Services Division at MUFG Bank. He leads organizational and internal control matters within the division, which provides JPY-related cross-border transaction services, including cash clearing, CLS settlements, and securities custody. Prior to his current role, he was Head of the Transaction Marketing Office at MUFG, promoting MUFG’s JPY cash clearing and sub-custody services.

Mr. Terazawa brings extensive expertise and breadth of knowledge in strategic planning to the Board.

The CLS Board now comprises 21 directors in total, eight of whom are designated as outside or independent directors.

Gottfried Leibbrandt, Chair of the Board, commented:

“We are delighted to welcome our new directors to the Board. Their extensive backgrounds in market infrastructure and financial services will be invaluable as we work to enhance the value provided through CLS’s services while addressing the challenges faced by the FX industry.”