New York/ London, November 9th 2012 - CLS Group (CLS), the market infrastructure that enhances financial stability by providing risk mitigation services to the global FX market, today announced that Bruce P. Nolop has been appointed to its Board of Directors.

Mr. Nolop, the Chief Financial Officer for E*Trade Financial Corp. until his retirement in 2011, is an outside director not affiliated with any of CLS’ Settlement Members. The addition of Mr. Nolop increases the size of the CLS Board of Directors to 20 directors.

Prior to his time with E*Trade, Mr. Nolop served as the CFO of Pitney Bowes Inc. from 2000 to 2008. From 1993 to 2000, he was a Managing Director at Wasserstein Perella & Co. in its investment banking division.

Mr. Nolop has more than 35 years of finance experience, including 18 years as an investmentbanker and 11 years as a CFO. He has held positions at Goldman Sachs and Morgan Stanley, and spent six years in executive management at Kimberly-Clark. He has served on the Board of Directors of Marsh & McLennan Companies since January 2008.

“We are very pleased to add a professional of Bruce’s caliber to our Board,” Gerard Hartsink, CLS’ Chairman, said, “Based on his extensive experience in the financial sector, I expect Bruce’s counsel to be particularly valuable as CLS continues to evolve in response to ongoing changes in the FX market.”

CLS CEO David Puth added: "It is an exciting time for Bruce to join the CLS Board. This is a critical period of growth for our company. I look forward to working closely with Bruce in the years ahead."

Mr. Nolop received a BA degree in political science from the University of South Dakota in 1972, and both an MBA from the Stanford Graduate School of Business and a J.D. degree from Stanford Law School in 1976.

Re-disseminated by The Asian Banker