2023 New Value Report

Ripple Executive Marcus Treacher Appointed to CHAPS Board

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Treacher’s recent appointment to the CHAPS Board demonstrates Ripple’s industry influence. Image: Shutterstock.

Ripple is honored to have Marcus Treacher, Global Head of Strategic Accounts, appointed as an Independent Director to the Clearing House Automated Payment System (CHAPS) Board.

CHAPS Co is the United Kingdom’s electronic payment system that guarantees same-day settlement for high-value payments. It processes approximately £277 billion daily from its 24 Direct Participants who, in turn, serve over 5,000 financial institutions as Indirect Participants.

Marcus Treacher has been appointed an Independent Director of the CHAPS Board to accelerate its innovation agenda and promote fairer access among Indirect Participants. His previous experience at HSBC and current focus at Ripple demonstrates his dedication to utilizing technology to improve banking.

“I’m honored to join the CHAPS Board to work directly with its members to promote innovation in financial technology,” said Treacher. “CHAPS is integral to the U.K.’s banking system, and I look forward to playing a part in its continued success and evolution.”

CHAPS also welcomes Noel Harwerth as Senior Independent Director to focus on scheme governance. Harwerth serves as non-executive director of Standard Life plc, the London Metal Exchange and Sirius Minerals, as well as Chairman of GE Capital Bank Europe.

On the recent appointments, Tim Fitzpatrick, CHAPS Co Chief Executive Officer, stated:

“Noel and Marcus, with their considerable experience in financial services, add significant depth to an already strong board. We will capitalize on this as we press on with our ambitious plans to meet the challenges arising from new regulation and the ever-increasing demands of our service.”

To read the full announcement, click here.

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