JPMorgan Chase chairman and CEO Jamie Dimon was appointed chairman of the board of directors of The Clearing House, operator of The Clearing House Payments Company, the private sector, global payments infrastructure. Dimon will be in the position for two years.
Additionally, Richard Davis, president and CEO of US Bancorp, was given a seat on board, succeeding retired US Bancorp chairman Jerry Grundhofer. Grundhofer was chairman of The Clearing House's board for the past two years and served as a board member for four years.
Dimon, Davis and other bank executives are responsible for overseeing the strategy and providing leadership for The Clearing House, the nation's oldest payments company and bank association.
The Clearing House Payments Company is owned by the following banks or their U.S. banking affiliates: ABN AMRO Bank N.V., Bank of America, The Bank of New York, The Bank of Tokyo-Mitsubishi UFJ, BB&T, City National Bank, Citibank, Citizens Bank, Comerica Bank, Deutsche Bank, Fifth Third Bank, First-Citizens Bank, HSBC Bank USA, JPMorgan Chase Bank, KeyBank, M&T Bank, National City Bank, PNC Bank, UBS AG, U.S. Bank, Wachovia Bank and Wells Fargo Bank.