The Clearing House Board of Directors announced today that James D. Aramanda has been named the company's Chief Executive Officer effective September 8.
He succeeds Jeffrey P. Neubert, who will retire from The Clearing House following a transition period.
"Jim is ideally suited to lead this highly important institution, which plays a critical role in our industry," said Jamie Dimon, The Clearing House Board Chairman. Dimon added that Aramanda "has more than 20 years of experience building and operating high performing businesses in financial services."
Mr. Aramanda's experience includes serving as Group President and Executive Vice President of Automatic Data Processing, Inc. responsible for brokerage, claims and dealer services businesses in 50 countries. He also was Vice Chairman of Mellon Financial Corporation (now Bank of New York Mellon) and CEO of processing businesses that operated around the globe. During his 18-year tenure at Mellon, he successfully led and enhanced the company's benefits processing, pension administration, shareholder administration, pension and HR consulting, cash management and brokerage services.
Mr. Neubert retires from The Clearing House CEO position after ten years of service and from a career spanning more than 30 years in banking, primarily at Citibank and Bank One (now JP Morgan Chase).
"Jeff has been an exceptional leader for The Clearing House, achieving outstanding performance and growth in a decade that also required guiding the organization through unprecedented challenges," said Mr. Dimon. "I join the other members of The Clearing House Board in thanking him for his unwavering dedication to The Clearing House and service to the entire banking industry."