Icap’s EBS, the world’s largest electronic interbank currency broking platform, has hired a new head of corporate development as it looks to grow its business by diversifying its product offering.

Richard Kerschner, previously chief corporate development officer at settlement bank CLS, will be responsible for leading EBS's new business initiatives, its response to regulatory reforms and its strategic alliances, partnerships and business development efforts, according to a statement. Kerschner will also join EBS's executive management team. He will be based in New York.