The Clearing House Appoints David Watson as CEO

The Clearing House (TCH) announced that President & CEO Jim Aramanda will be retiring in early-2023, “after 15 years leading the company.”

Aramanda will be “succeeded by David Watson, who most recently served as Chief Product Officer of Swift.” In this role, Watson maintained responsibility “for Swift’s product engineering, development, and innovation with focus on the company’s services to banking, securities, market infrastructure, and corporate customers.”

His appointment is “effective February 1, 2023.”

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.”

Moynihan went on to say that:

“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.”

In Watson’s previous role as the Chief Strategy Officer for Swift he “had responsibility for market and competitive intelligence, strategic planning, thought leadership, and execution of strategic initiatives for the company.”

Previously he “worked for Deutsche Bank for approximately 17 years, 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.”

As noted in the update, the Clearing House “operates U.S.-based payments networks that clear and settle more than $2 trillion each day through wire, ACH, check image, and real-time payments.”

It is “the nation’s most experienced payments company, with a long track record of providing secure and reliable systems, payments innovation, and strategic thought leadership to financial institutions.”

In 2017, The Clearing House revolutionized U.S. payments by “introducing the RTP® network, which supports the immediate clearing and settlement of payments, along with the ability to exchange related payment information across the same secure channel.”

These RTP capabilities “enable all financial institutions to offer safer, faster, and smarter digital transaction services for their corporate and retail customers.”

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