Dave Sapenaro Named as New Payments Strategy Director

With Gordon Werkema set to retire in September, we are pleased to announce that Dave Sapenaro, first vice president and chief operating officer of the St. Louis Fed, will succeed him as Payments Strategy Director. Sapenaro, a 32 year veteran of the Federal Reserve System, has played an instrumental role in our payments initiative from its inception, which will allow him to seamlessly transition into his new role. Federal Reserve Bank of Kansas City President and Chief Executive Officer Esther George had nothing but high praise, noting: “Dave’s leadership experience in many facets of our payments responsibilities and his commitment to the work are exceptional, and I am delighted to have him lead the next phase of our improvement efforts.”

Sapenaro will assume this new position and continue to serve as first vice president and chief operating officer of the St. Louis Fed. As part of his new role, Sapenaro’s responsibilities will include leading the Fed’s strategies related to faster and secure payments as well as stakeholder engagement. He will also continue to collaborate with financial service business leaders to execute the full scope of strategies outlined in the Strategies for Improving the U.S. Payment System (PDF) paper. “I’m honored to carry these efforts forward and excited to work closely with the many Federal Reserve and industry leaders who have generated very significant momentum toward achieving the desired outcomes,” Sapenaro said. “The Federal Reserve remains committed to collaborating with stakeholders on improvements that deliver safe, ubiquitous, faster payments to American consumers and businesses.”

To learn more, read the press release in its entirety.