The chief executive of a vital foreign exchange company that settled $5.2tn of trades a day last year is stepping down after six years in the role.

David Puth, the chief executive of FX settlement house CLS Group, will stay on as CEO until September 30, remaining with the group for a further two months to ensure a smooth transition, the company said in a statement on Monday. Chairman Kenneth Harvey will act as interim CEO until a successor can be found.