Kim Robbins will lead Federal Reserve Financial Services, the arm that runs the US central bank’s retail, wholesale, securities and instant payment services, from 16 November. She succeeds Mark Gould, who announced his retirement as chief payments executive earlier this year.
Robbins has been first vice president and chief operating officer of the Federal Reserve Bank of Kansas City since 2024, overseeing operations, risk, finance, technology and Treasury services. She was previously chief of enterprise services for Federal Reserve Financial Services and the first chief administrative officer of the FedNow Service. She has spent more than 20 years in the Federal Reserve System, after seven years in retail at GAP and Payless ShoeSource.
“Her experience, skill and strategic perspective will ensure continued strength by the Fed,” said Jeff Schmid, president and chief executive of the Kansas City Fed. The Kansas City Fed has begun a search for her successor.
Digital Trade Outlook’s View: FedNow’s First Administrator Takes Charge of All Fed Payments
FedNow is only as useful as the number of banks connected to it. Putting the person who helped stand up the service in charge of the whole Fed payments portfolio places instant payments at the centre of that portfolio. US banks that have held back from joining should read the appointment as a sign the Fed intends to push adoption harder.
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