David Puth
{{short description|American financial services executive}}
{{Like resume|date=March 2022}}
{{primary sources|date=November 2023}}
{{Infobox person
| name = David Puth
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| nationality = American
| education = Tufts University in Boston
| occupation = Business executive
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| spouse = Leslie Puth
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David Puth is an American financial services executive who has held senior positions at several financial service companies. He was chief executive officer of USD Coin (USDC) standards body, Centre from 2020 until Centre was absorbed by Circle.{{Cite web|url=https://medium.com/centre-blog/financial-industry-veteran-david-puth-joins-centre-as-chief-executive-officer-840712968ef4|title=Financial Industry Veteran David Puth Joins Centre as Chief Executive Officer|date=December 2020}}{{primary source inline|date=November 2023}} Between 1988 and 2007, he worked at J.P. Morgan where he served in a variety of senior global leadership roles.
Puth is a former member of the New York Federal Reserve Foreign Exchange Committee,{{cite web|title=FOREIGN EXCHANGE COMMITTEE MEMBER LIST 2017|url=https://www.newyorkfed.org/fxc/members/members_current.html|website=New York Federal Reserve}} the Bank of England Joint Standing Committee{{cite web|title=Quarterly Bulletin|url=http://www.bankofengland.co.uk/Pages/reader/index.aspx?pub=qb17q2article5&page=1|publisher=Bank of England|access-date=2017-07-19|archive-date=2017-10-17|archive-url=https://web.archive.org/web/20171017094303/http://www.bankofengland.co.uk/Pages/reader/index.aspx?pub=qb17q2article5&page=1|url-status=dead}} and former chairman of the Bank of International Settlements' Market Participants Group where he led the foreign exchange (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.{{Cite web|url=https://www.fx-mm.com/news/17693/cls-names-david-puth-as-new-ceo/|title=CLS Group names David Puth as new CEO - FX-MM|website=www.fx-mm.com|language=en|access-date=2017-07-13}}
Education
Puth studied Political Science and Government at Tufts University in Boston, graduating with a Bachelor of Arts degree in 1979.{{Cite web|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=8952009&privcapId=8623037|title=David W. Puth: Executive Profile & Biography - Bloomberg|website=www.bloomberg.com|access-date=2017-07-13}}
Career
Puth spent 19 years at J.P. Morgan 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. He worked 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.{{Cite web|url=https://www.jpmorganchase.com/corporate/investor-relations/document/2004_AR_JPM.pdf|title=J.P. Morgan Annual Report 2004}}
In 2008, Puth joined State Street 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.
Puth served as chief executive officer (CEO) and Director at CLS Group from 2012 to 2018.{{Cite web|url=https://www.cls-group.com/About/Pages/BiogDetails.aspx?BiogId=17|title=Biography Details|website=www.cls-group.com|language=en-GB|access-date=2017-07-13|archive-date=2012-12-03|archive-url=https://web.archive.org/web/20121203071002/http://www.cls-group.com/About/Pages/BiogDetails.aspx?BiogId=17|url-status=dead}} CLS is a specialist financial system that provides settlement services to its members in the foreign exchange market to mitigate settlement risk.{{Cite web|url=https://www.cls-group.com/About/Pages/default.aspx|title=www.cls-group.com/About/Pages/default.aspx|website=www.cls-group.com|language=en-GB|access-date=2017-07-13|archive-date=2016-11-27|archive-url=https://web.archive.org/web/20161127024240/https://www.cls-group.com/About/Pages/default.aspx|url-status=dead}}
In 2016, 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.{{Cite web|url=https://www.fx-mm.com/article/48866/david-puth-ceo-at-cls-in-safe-hands/|title=Interview with David Puth, CEO at CLS: In safe hands|website=www.fx-mm.com|language=en|access-date=2017-07-13}}
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.{{Cite news|url=https://www.bloomberg.com/news/articles/2016-05-24/the-currency-ethicist-has-a-plan-to-redeem-a-tarnished-market|title=The Currency Ethicist: One Man's Push to Fix a Tarnished Market|work=Bloomberg.com|access-date=2017-07-13}}
The Code was published in two halves, the first on May 26, 2016{{Cite journal|url=http://www.bis.org/about/factmktc/fxwg.htm|title=Foreign Exchange Working Group|date=2015-07-22|website=www.bis.org|language=en|access-date=2017-07-13}} and the second on May 25, 2017.
In 2020 Puth was appointed chief executive officer (CEO) to Centre in 2020 until it was absorbed by Circle (company) in 2023.
Philanthropic work
Puth is a board member and leads the audit and finance committee for the Robin Hood Foundation.{{Cite web|url=https://www.robinhood.org/about-us/governance/|title=Governance {{!}} Robin Hood|website=robinhood.org|date=9 October 2016|language=en-US|access-date=2017-07-13}} He is also a trustee of the Institute of Contemporary Art in Boston.