For immediate release: January 2, 2020
Dan Baum has been promoted to senior vice president and head of payments product management for FedNow, announced Raphael Bostic, president and chief executive officer of the Federal Reserve Bank of Atlanta. Jessie Bitetti has been named assistant vice president on the FedNow industry readiness team, and Jean Tate has been promoted to assistant vice president, communications for FedNow.
Baum previously served as vice president, Retail Payments Office (RPO) product and revenue management, where he led the RPO's product development group. He also led the System's automated clearinghouse (ACH) 2.5 growth initiative and played a high-profile role in several efforts for the check service line. From 1996 to 2005, he worked at the Richmond Fed, where managed day check operations and later led the Fifth District's check administration department.
Baum holds a bachelor's degree in economics from the University of Baltimore and a master of business administration from Johns Hopkins University.
Bitetti previously served an assistant vice president in the RPO with responsibility for strategic business relations, vendor relations, product marketing, and external/customer communications. She joined the Fed in 1998 as a section manager in the electronic access customer support area. She left the Bank to pursue other career opportunities, then returned in 2006 as project coordinator II in the RPO. She was promoted to project manager and later to operations director. In 2013, she transferred to human resources. In 2016, Bitetti was promoted to assistant vice president over check and FedACH customer service, including customer implementations, testing, channel support, and the call center.
Bitetti earned a bachelor of science degree in management from Rensselaer Polytechnic Institute in Troy, New York, and a master of business administration degree from Case Western Reserve University in Cleveland, Ohio.
Tate joined the Atlanta Fed in 1997 as a public information specialist and held positions of increasing responsibility in the Public Affairs Department. In 2006, she was promoted to manager of public information, served as media relations liaison beginning in 2008, and was promoted to media and marketing strategist in 2014.
Tate earned a bachelor's degree in English from Agnes Scott College and a master's degree in journalism from the University of Georgia. FedNow is the Federal Reserve System's new round-the-clock real-time payment and settlement service to support faster payments in the United States. The Boston Fed has responsibility for FedNow. As part of the FedNow initiative, Baum, Bitetti, and Tate will report to the Boston Fed but will continue to work out of the Atlanta Fed.
The Federal Reserve Bank of Atlanta serves the Sixth Federal Reserve District, which encompasses Alabama, Florida, Georgia, and sections of Louisiana, Mississippi, and Tennessee. As part of the nation's central banking system, the Atlanta Fed participates in setting national monetary policy, supervises numerous commercial banks, and provides a variety of financial services to depository institutions and the U.S. government.