David Puth: The Resiliency of CLS in the Face of Unexpected Circumstances

A veteran of the finance industry, David Puth assumed the role of chief executive officer for CLS Group Holdings AG in August 2012. In this position, David Puth has worked to ensure the resiliency of CLS as it fulfills its fundamental role in the foreign exchange (FX) market. The company has continuously demonstrated its ability to settle FX transactions on time—for example, during the May 2010 flash crash. Even during Hurricane Sandy, the company did not miss a single payment instruction, due to redundancies built into its system that allow operations on two continents simultaneously. Although the storm displaced the entire New York CLS office, the company continued to function without interruption.

After Hurricane Sandy, CLS divided employees among eight locations in New York and New Jersey and gradually consolidated the remote offices until the company’s return to Lower Manhattan in mid-December. Through creative technological solutions, CLS employees seamlessly operated business from multiple sites.


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