Michelle Neal, Executive Vice President of the New York Fed, to serve as CEO of DLT settlement platform Fnality

On December 15th, Fnality International announced the appointment of Michelle Neal as the new CEO. Neal is currently the Executive Vice President and Market Director at the New York Federal Reserve Bank (NY Fed) and will join Fnality in the first quarter of 2025. She has industry experience at Mellon Bank, Deutsche Bank, Nomura Securities, Royal Bank of Canada, and Royal Bank of Scotland.

Fnality is a DLT settlement platform that launched the Sterling Fnality payment system last year with support from 20 global institutions. Angus Fletcher is the CEO of Fnality UK. The company's system relies on a comprehensive central bank account that holds funds to support tokenized central bank currencies. The platform plans to launch USD and EUR solutions, which require approval from relevant central banks.

Earlier news reported that Fnality's founding CEO Rhomaois Rham plans to resign.