The Clearing House snatches new CEO David Watson from Swift

Rick Steves

“David will continue TCH’s important work of driving adoption of real-time payments capabilities and focusing on the safety, security, reliability, and efficiency of bank-owned payment systems which are critical to the financial system.”

The Clearing House (TCH) has appointed David Watson, who most recently served as Chief Product Officer of Swift, to the role of Chief Executive Officer to replace outgoing Jim Aramanda, who will be retiring in early 2023, after 15 years leading the company.

His appointment is effective February 1, 2023. David Watson will join TCH from Swift, where, as CPO, he maintained responsibility for Swift’s product engineering, development, and innovation with a focus on the company’s services to banking, securities, market infrastructure, and corporate customers.

Prior to the role of Chief Product Officer, he was the Chief Strategy Officer for Swift, with responsibility for market and competitive intelligence, strategic planning, thought leadership, and execution of strategic initiatives for the company.

His career at Swift followed 17 years at Deutsche Bank, where he served in a variety of commercial and product leadership roles, including Head of Cash Management Americas & Global Head of Digital Products, Global Transaction Banking.

Driving adoption of real-time payments capabilities

Brian Moynihan, Bank of America Chair and Chief Executive Officer and Chair of the TCH Supervisory Board said: “The Clearing House’s Supervisory Board is grateful for Jim Aramanda’s long-standing service to the organization. During Jim’s tenure, TCH continued its critical role in delivering ultra-reliable payments capabilities to the U.S. financial system, but importantly, also introduced innovative new payments capabilities. This includes the RTP® network, which is now delivering real-time payments capabilities.

“We are very pleased to welcome David Watson to lead The Clearing House. David brings extensive payments experience, in-depth expertise in the field, and a strong track record of innovation. David will continue TCH’s important work of driving adoption of real-time payments capabilities and focusing on the safety, security, reliability, and efficiency of bank-owned payment systems which are critical to the financial system.”

Read this next

Retail FX

Banxso announces 8.7% interest rate on deposits in South Africa

“With Banxso, they can enjoy the benefits of both worlds – earning competitive interest and having the freedom to trade, all within the same platform.”

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

<