For the first time in history, a representative of Russia will join the highest executive body of SWIFT. Eddie Astanin, Chairman of the Executive Board of National Settlement Depository (NSD), Russia’s central securities depository, has been elected as a candidate for the board of directors of the international SWIFT system by Russia financial institutions.
The SWIFT board includes 25 members representing countries with the biggest SWIFT message traffic. The board is elected for a three-year term at the annual general meeting (AGM) of SWIFT participants. The AGM which will approve the new members on 11 June in La Hulpe, Belgium.
The functions of the board include strategic management and the oversight of the SWIFT Executive Committee which is responsible for day-to-day management.
“I am delighted that the Russian SWIFT community has selected a respected leader in the financial markets, and representative of a strong SWIFT supporter, in Eddie Astanin, who will now go through the SWIFT board and SWIFT AGM approval procedure,” says Matthieu de Heering, head of Russia CIS and Mongolia.
Astanin adds: “This decision is a great honor and responsibility for me. I thank Russian users of SWIFT for their trust and will do all my best to justify it. Participation on the board of directors will create new opportunities for taking account of Russian users’ interests in the development of SWIFT and for the promotion of its new services here for the benefit of the Russian financial market’s development.”
On day one of SIBOS, panellists unanimously agreed that doing nothing to modernise payments was no longer safe bet for transaction banking.
On day one of Sibos 2017, Stefan Dab, The Boston Consulting Group led a conversation examining the future of correspondent banking, and specifically the pain points corporate treasurers face in their cross-border payments operations and where technology can be developed to alleviate these.
Rising interest rates, excitement around blockchain use cases and cross-border payments were all hot topics at this year's AFP conference in San Deigo.
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.