The Clearing House
David Watson is the President and CEO of The Clearing House, which clears and settles approximately $2 trillion in bank-to-bank payments each day. The Clearing House is owned by 22 of the largest commercial banks in the U.S., whose CEOs comprise the organization’s Supervisory Board of Directors. Mr. Watson additionally oversees The Clearing House Association, the nation’s first banking trade association, which today advocates for policies that help to provide for a safe, sound, and efficient U.S. payments system.
Mr. Watson brings extensive experience to the role, with an international career spanning more than 20 years in the financial services industry. Prior to joining TCH, he was with Swift, the global financial messaging provider, where he most recently served as Chief Product Officer, responsible for the company’s product engineering, development, and innovation. Previously Mr. Watson was Chief Strategy Officer, where he had responsibility for market and competitive intelligence, strategic planning, thought leadership, and execution on key strategic initiatives for the company.
Prior to Swift, Mr. Watson spent nearly 17 years with Deutsche Bank where he served in commercial, product and leadership roles, including as Head of Cash Management Americas and as Global Head of Product Development, Global Transaction Banking. While at Deutsche Bank, he served as a director on TCH’s Payments Company Board for several years and was on the board of Deutsche Bank Trust Company Delaware.
Mr. Watson holds a degree in Business from Edinburgh University in his native Scotland and has lived in Germany, the UK, and the U.S.
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The Clearing House
The Clearing House is a banking association and payments company owned by the largest commercial banks, and dates back to 1853. The Clearing House Payments Company L.L.C. owns and operates core payments system infrastructure in the United States and is currently working to modernize that infrastructure by building a new, ubiquitous, real-time payment system. The Payments Company is the only private-sector ACH and wire operator in the United States, clearing and settling nearly $2 trillion in U.S. dollar payments each day, representing half of all commercial ACH and wire volume. Its affiliate, The Clearing House Association L.L.C., is a nonpartisan organization that engages in research, analysis, advocacy and litigation focused on financial regulation that supports a safe, sound and competitive banking system.