FX market infrastructure specialist banker and FX veteran John Bock to head its sales unit at Americas, according to information made public on his Linkedin profile. Bock, who is based in New York, joins CLS after nearly three decades at global banks, where he was mainly focused on managing e-FX order flows.
Mr. Bock served most recently as head of eCommerce FX for Americas at Corporate and Investment Banking. During his eight-year term with the French lender, he was tasked with managing all aspects of the eFX business, from risk management, to sales, CRM and algorithmic client trading.
Before his time at Societe Generale, John worked for a number of banks in a variety of FX-related roles, mostly in New York. He previously worked as a vice president in FX electronic trading services at Bank of America Merrill Lynch, where he also managed the BOA/ML merger and electronic execution to clients.
Mr. Bock has begun, and spent most of his professional career at Goldman Sachs. He joined the investment bank back in 1990 as an operations analyst, and then worked his way onto the trading, sales and electronic FX desks.
The appointment comes as part of a broader strategy that aims to shake off CLS’ image as a traditional settlement services provider. To date, most of the updates to were enhancements of existing services intended to make the offering more efficient.
Instead, the company, which was formed in 2002 to reduce FX settlement risks, recently has been keen to promote itself as a provider of innovative products, including post-trade risk management, aggregation and netting solutions.
Earlier this month, a seven percent drop in average daily volume. During the month, the average daily traded volume submitted to the company was $1.75 trillion.
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