BIS Appoints Tara Rice as Head of Secretariat for CPMI

Rice’s three-year term will commence on the 1st of June 2020.

The Bank for International Settlements (BIS) announced this week that it has appointed Tara Rice as Head of Secretariat for the Committee on Payments and Market Infrastructures (CPMI).

Rice’s three-year term will commence on the 1st of June 2020. She has been a member of the CPMI Secretariat since January of 2019 and was previously the Deputy Head of Secretariat.

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The BIS is a hub for central banks, financial regulators and supervisory authorities. Since joining the CPMI Secretariat, Rice has led its support of the G7 working group on global stablecoins, the company said in its statement published on Wednesday.

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As the Head of Secretariat, Rice is replacing Morten Bech, who has been appointed Head of the BIS Innovation Hub Switzerland. Rice has experience in both the financial markets and institutions domestically and internationally. She has held senior roles at the Federal Reserve and the US Department of Treasury.

“The CPMI, currently chaired by Sir Jon Cunliffe, Deputy Governor of the Bank of England, is an international standard setter that promotes, monitors and makes recommendations about the safety and efficiency of payment, clearing, settlement and related arrangements, thereby supporting financial stability and the wider economy,” the BIS said in its statement.

Executive changes at BIS

In recent weeks, the BIS has announced a number of appointments. As Finance Magnates reported, last week Bénédicte Noella Nolens as the head of the BIS Innovation Hub Centre in Hong Kong SAR. Nolens will assume the new role on the 1st of July 2020, with her position to last for three years.

Prior to Nolens’ appointment, the central bank hub recruited Joachim Nagel as Deputy Head of the Banking Department for a term lasting five years. Nagel’s five-year term commences on the 1st of November, succeeding Jean-François Rigaudy, who retires from the Bank on the 31st of August, after more than 31 years with the BIS.

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