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.

Commenting on the transition, 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.