Executive Change: Janet Estep Named NACHA'S Next CEO

The NACHA Board of Directors has selected Janet O. Estep, most recently an executive vice president with U.S. Bank, to succeed Elliott McEntee, who will retire as president and chief executive officer at the end of 2008. During the transition period, Estep will serve as president and chief operating officer and McEntee will continue as chief executive officer.

“The Board selected Jan because she has the right experience, insight, and drive to ensure the continued safety, innovation, and growth of the ACH Network,” said Steve Ellis, executive vice president, Wells Fargo and NACHA Board chairperson. “She has an outstanding track record in product management, technology, operations, and sales and marketing involving an array of payment products.”

“It’s an exciting time to be joining NACHA, as consumers and businesses are increasing their use of electronic payments, and the ACH Network is experiencing robust growth,” said Estep. “I look forward to working with the NACHA membership to fulfill the association’s important role in the payments industry.”

At U.S. Bank, Estep was responsible for the Transaction Services Division, including Elan ATM & Debit Services, a processing provider for 2,000 other financial institutions, including many community banks and credit unions. Her direct responsibilities encompassed strategy development, product development and support, marketing, sales, relationship management, finance, technology integration, and portions of customer service and operations.

Estep joined U.S. Bank in June 1997 as a senior vice president with responsibility for the general management of the Merchant Payment Services division. She also spent 15 years with IBM in a variety of field positions and headquarters positions including sales, sales management, storage systems specialist, and image technology product development and management.

“Jan’s solid industry background and sensitivity to the needs of community banks and credit unions in the payments system ensure that NACHA and the ACH Network will continue to benefit all stakeholders,” said Mike Bilski, executive vice president, North American Banking Company and NACHA board member who served on the CEO search committee.

Estep will be formally introduced at PAYMENTS 2008, NACHA’s annual conference, to be held May 18-21 in Las Vegas.

NACHA—The Electronic Payments Association is a not-for-profit association that oversees the Automated Clearing House (ACH) Network, one of the largest electronic payment networks in the world. More than 18 billion ACH payments were exchanged in 2007. NACHA is responsible for the administration, development, and enforcement of the NACHA Operating Rules and sound risk management practices for the ACH Network. Through its industry councils and forums, NACHA brings together hundreds of diverse payments system stakeholder organizations to enable the development of new network services and applications. NACHA represents more than 11,000 financial institutions through direct membership and 19 regional payments associations. NACHA and its members provide education, tools, and resources to increase the adoption of ACH payments to benefit businesses, consumers, and governments. To learn more, visit www.nacha.org and www.electronicpayments.org.