David Puth is an American financial services executive. He was named chief executive officer of Centre in 2020.
Centre governs the technology, policy, compliance, audit and reserve standards for
USD Coin (USDC), the fastest growing dollar-based digital currency in the world.
Puth is a former member of the
New York Federal Reserve
The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States. It is responsible for the Second District of the Federal Reserve System, which encompasses the State of New York, the 12 northern counties of New ...
Foreign Exchange Committee, the
Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of ...
Joint Standing Committee and former Chairman of the Bank of International Settlements' Market Participants Group where he led the
foreign exchange
The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all as ...
(FX) market's input to the development of a single global code of conduct covering the FX market.
Puth was a member of the Foreign Exchange Committee, sponsored by the Federal Reserve Bank of New York, which he chaired from 1992 to 2002.
Education
Puth studied Political Science and Government at
Tufts University in
Boston, graduating with a Bachelor of Arts degree in 1979.
Career
Puth's career spans more than three decades in financial markets, including 19 years at
J.P. Morgan
JP may refer to:
Arts and media
* ''JP'' (album), 2001, by American singer Jesse Powell
* ''Jp'' (magazine), an American Jeep magazine
* ''Jönköpings-Posten'', a Swedish newspaper
* Judas Priest, an English heavy metal band
* ''Jurassic Park ...
where he served in a variety of senior global leadership roles with oversight of the bank's FX, interest rate derivatives, commodities and emerging markets businesses.
Puth spent more than 19 years at J.P. Morgan from 1988 to 2007.
He held several senior roles at the bank including Global Head of Currencies and Commodities until November 15, 2006.
He also served as a managing director and was a member of J.P. Morgan Chase' Executive Committee.
In 2008, Puth joined
State Street State Street may refer to:
Streets and locations
*State Street (Chicago), Illinois
* State Street (Portland, Maine)
*State Street (Boston), Massachusetts
*State Street (Ann Arbor), Michigan
* State Street (Albany), New York
*State Street (Manhatta ...
as Executive Vice President and Head of Global Markets where he oversaw sales, trading and investment research across multiple asset classes. He was also responsible for Currenex, Sate Street's electronic foreign exchange brokerage arm.
Centre
Puth was appointed chief executive officer (CEO) to Centre in 2020.
The technology behind Centre makes it possible to exchange value between people, businesses and financial institutions just like email between mail services and texts between SMS providers.
CLS
Puth served as chief executive officer (CEO) and Director at
CLS Group
CLS Group (for Continuous Linked Settlement), or simply CLS, is a specialized financial infrastructure group whose main entity is the New York-based CLS Bank. It started operations in 2002 and operates a unique global multicurrency cash settlemen ...
from 2012 to 2018. CLS is a specialist financial system that provides settlement services to its members in the foreign exchange market to mitigate
settlement risk.
FX Global Code
David Puth served as the Chair of the Market Participants Group for the drafting of the
Bank of International Settlements Global FX Code of Conduct for the foreign exchange market.
In this role, he was responsible for leading the market participants input to create a voluntary code of conduct for all wholesale foreign exchange market participants.
The Global FX Code aims to establish a single set of common guidelines and principles of good practice for responsible participation in the wholesale FX market. The Global FX Code is being developed by the Foreign Exchange Working Group (FXWG).
The Code was published in two halves, the first on May 26, 2016
and the second on May 25, 2017.
Philanthropic work
Puth is a board member and leads the audit and finance committee for the Robin Hood Foundation.
He is also a trustee of the Institute of Contemporary Art in Boston.
References
{{DEFAULTSORT:Puth, David
Living people
American financial businesspeople
Year of birth missing (living people)