Federal Reserve Financial Services Chief Payments Executive Mark Gould to Retire

CHICAGO--(BUSINESS WIRE)--Federal Reserve Financial Services (FRFS) today announced the upcoming retirement of Mark Gould, Chief Payments Executive, culminating a distinguished career spanning more than three decades of leadership, thoughtful stewardship, and service to the nation’s payments system.

Gould currently oversees the Federal Reserve’s full portfolio of financial services, including cash, retail, wholesale, securities, and instant payment offerings across the United States. He has championed a forward-looking vision, reshaping how financial institutions, businesses, and consumers move money in an increasingly digital economy.

“Looking back on my 35-year career at the Federal Reserve, it’s clear why so many people devote their life’s work to the Fed’s mission,” said Gould. “Being part of FRFS as we’ve modernized services, expanded instant payments, and strengthened the backbone of the U.S. payments system has been the most rewarding experience of my career. The work ahead is important, and I’m confident the team is exceptionally prepared to guide the industry through its next wave of innovation and resilience.”

In March 2021, Gould became the first Chief Payments Executive, guiding the Federal Reserve’s payments evolution during a period of rapid industry change, including the launch and expansion of instant payments capabilities. Throughout his tenure, he provided steady, strategic leadership across Federal Reserve initiatives aimed at strengthening the resilience, efficiency, and modernization of U.S. payment systems.

“Mark’s impact on the Federal Reserve System and on the nation’s payments infrastructure has been profound,” said Tom Barkin, president, Federal Reserve Bank of Richmond and chair of the Fed’s Payments Committee. “His leadership, foresight, and ability to bring people together across disciplines have helped shape a stronger, more innovative, and more resilient payments ecosystem. We are deeply grateful for his service and wish him the very best in his well‑deserved retirement.”

Gould will remain in his role while the search for his successor is underway and will remain at the Fed through the end of the year to ensure a smooth and thoughtful transition. More information about the national search for his successor will be announced in the coming months.

About FRFS

FRFS provides payment services and seeks to foster the stability, integrity and efficiency of the nation’s monetary, financial and payment systems. It offers a comprehensive suite of payment and information services to financial institutions. Visit FRBservices.org^® for additional information.