David Watson, a post-trade and securities expert with two decades of experience at Swift and Deutsche Bank has been appointed as CEO of The Clearing House (TCH).
TCH operates US-based payments networks that clear and settle more than $2 trillion each day through wire, ACH, check image, and real-time payments.
Watson becomes the latest SWIFT securities executive to depart following the exit of Vikesh Patel in December.
Watson was most recently chief product officer of Swift, with responsibility for its product engineering, development, and innovation with focus on the company’s services to banking, securities, market infrastructure, and corporate customers.
Prior to the role he had been chief strategy officer.
Before joining Swift in August 2019, Watson spent 17 years at Deutsche Bank in a number of roles across the Global Transaction Banking business. Before departing he was head of cash management Americas and global head of digital products.
His appointment at TCH is effective 1 February 2023.
Brian Moynihan, Bank of America chair and chief executive officer and chair of the TCH Supervisory Board said: “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.”
He replaces James Aramanda who had led The Clearing House since 2008.