Caviezel Appointed as JPMorgan Hits CLS Landmark
JPMorgan Treasury Services has settled its 500,000th foreign exchange (FX) trade through CLS. The bank achieved this volume in FX trade settlement in the ten months following the live date of CLS. Reflecting strong demand from clients for the service, JPMorgan also announced that it won its twenty-eighth client mandate to provide CLS settlement services with an appointment by Mercantile Discount Bank of Israel. In addition, Alexander Caviezel has been named Treasury Services’ Regional Executive for the Asia Pacific region. Caviezel assumes the role previously held by Steven Groppi who, earlier this year, moved to London to take responsibility for JPMorgan Treasury Services’ business in Europe, the Middle East and Africa.