Last week, the Federal Reserve System announced that Kenneth Montgomery, Federal Reserve Bank of Boston’s first vice president and chief operating officer, will succeed Todd Aadland as the payments security strategy leader. In this role, Ken will lead the Federal Reserve’s effort to reduce fraud risk and advance the safety, security and resiliency of the U.S. payment system. His responsibilities will also include chairing the Secure Payments Task Force (Off-site).
When asked about Montgomery, Federal Reserve Board Governor Jerome H. Powell, co-chair of the initiative’s oversight committee, noted that “Ken’s long and distinguished record of service to the Federal Reserve System, along with his business experience and technical expertise, are exactly what’s needed to help maintain a strong partnership with the industry on improved payments security.”
Aadland, who has held the position since September 2015, will be transitioning into a new role overseeing multiple Treasury Services programs as well as Wholesale Operations at the Federal Reserve Bank of Kansas City.
We are very excited to have Ken on board and wish Todd Aadland the best in his future endeavors. For more information, you can read the press release (off-site) in its entirety.