CBL Markets Bolsters Board of Directors
CBL Markets – New York, Sydney – CBL Markets, a global leader in environmental commodity markets, following the recent acquisition of CTX Holdings Pty Ltd (CTXH) and its operating subsidiaries, today announced that it has revamped its Board of Directors:
- Donald H. Putnam, a long time investor in and advisor to financial services companies is the Chairman of the new Board of Directors.
- Lawrence E. Leibowitz, lately of NYSE Euronext and a long-serving member of the CTXH board, has taken a seat at the newly constituted board of CBL Markets.
- Jack Klinck, formerly of State Street Bank, has also joined as a valued Non-Executive Director.
Mr. Putnam is Managing Partner of Grail Partners which he founded in 2005 after selling Putnam Lovell Securities to National Bank Financial in 2002. Grail manages The Chalice Fund which invested in CTXH last year and more recently into CBL Markets.
“Our goal is to reinforce CBL Markets’ leadership as the only 24/7 global spot exchange for environmental commodities,” said Putnam. “Global markets require superb technology, deep relevant information and seamless settlement, and our aim is to consolidate the fragmented landscape of single-product environmental exchange venues.” Putnam added, “Following the recent acquisition, it is our privilege to carry on delivering these essential ingredients to market participants worldwide.”
Leibowitz is formerly the Chief Operating Officer of NYSE Euronext where he oversaw global cash market listings and execution as well as integrating technology platforms across the firm. Prior to NYSE Euronext, he was COO for UBS Americas Equities and the Co-Head of Schwab Capital Markets and held a number of other senior roles in financial services. “With the increasing need for a central spot environmental commodities market, CBL Markets is well-poised for growth,” comments Leibowitz.
Klinck was most recently Executive Vice President and Head of Global Strategy and New Ventures at State Street Corporation. He was one of ten Management Committee members reporting to the CEO, and in 2013, he founded State Street Global Exchange, the company’s big data and analytics business. Klinck added, “I’m hoping to help CBL Markets grow as environmental regulation shifts and new market opportunities arise.”
The 10-year deal covers financial and commodity derivatives.
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