David Puth: Robin Hood Foundation Committed to Long-Term Storm Recovery

Long involved in non-profit endeavors in New York and Boston, David Puth has served as a board member of the Robin Hood Foundation since 1998. In that time, Puth has worked to advance the initiatives of the group, one of the world’s largest poverty-fighting organizations. After providing more than $45 million in grants to organizations that offered assistance during the immediate aftermath of Hurricane Sandy, the Robin Hood Foundation now is entering the second phase of its hurricane recovery assistance by providing grants to organizations and businesses that are rebuilding hurricane-damaged locations.

Several initiatives funded by Robin Hood grants have already been announced. New York City Mayor Michael Bloomberg unveiled a new program in January to help property owners deal with mold and water damage caused by the storm. Included in the plan is a $15 million program funded in part by the Robin Hood Foundation that will remove mold at no cost from 2,000 houses in hard-hit communities. A $10,000 grant from the Robin Hood Foundation recently helped fund the restoration and refurbishing of a thrift store in Long Branch, New Jersey, that provides revenue for the non-profit organization Family & Children’s Services.

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David Puth Aims to Double CLS’ Currency Trading Coverage

CEO David Puth speaking to the crowd.As the CEO of CLS Group Holdings AG, David Puth guides a leading foreign exchange market transactions provider. Speaking with FX Week in October 2012, he discussed his firm’s ambitious goal to double the number of currencies settled over the next decade.

CLS currently covers 17 currencies, a number that has not changed in more than four years, when the company added the Israeli shekel and Mexican peso. Though Mr. Puth did not give specific timeframes, he noted that the firm is working with China, Thailand, Russia, Chile, and Brazil to enable them to become CLS currencies. The CEO’s commitment to accelerating the currency introduction process reflects an awareness that settlement risk represents the single greatest uncertainty in today’s FX market infrastructure. By effectively doubling currencies covered and creating a superior risk-management system, CLS seeks to alleviate the risks that banks face in terms of settlement risk, the largest identifiable risk in the FX market.