Ripple Hires SWIFT Board Member to Take Over Global Accounts

Apr 11, 2016 at 20:01 UTC
Updated Apr 11, 2016 at 21:50 UTC
NEWS

Distributed ledger tech startup Ripple has hired SWIFT board member Marcus Treacher as its global head of strategic accounts.

Treacher has held a position as one of SWIFT’s more than 20 board members since 2013, where his responsibilities include overseeing its corporate advisory group and serving as a member of its banking and payments committee and technology committee.

Until November 2015, Treacher was also global head of payments innovation at HSBC. Now, Treacher will be working from the headquarters of Ripple’s European operations in London.

In a press release, Ripple lauded Treacher as a driver of blockchain and distributed ledger adoption during his tenure at HSBC.

Treacher said in a statement:

“Since the early days of the web, I’ve been exploring how new technology can impact and improve banking. Ripple stood out to me as a company that has both the vision and the expertise to truly transform the future of banking and payments.”

In remarks, Ripple CEO Chris Larsen went on to laud Treacher for his experience working to improve global payment systems.

The appointment is notable given past assertions by FinTech thought leaders that blockchain technology could one day come to challenge SWIFT’s position in the global financial system.

Founded in the 1970s as the Society for Worldwide Interbank Financial Telecommunication, SWIFT promotes and develops standards or financial messaging.

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