People in the News

Federal Reserve Financial Services and the Federal Reserve Bank of San Francisco have appointed Steve Son as Senior Vice President and Head of FedCash Services Business Solutions and Support, a position previously held by Kathleen Young before she was promoted to Chief of FedCash Services.

Steve has been with the Federal Reserve System for more than 20 years, latterly as the FedCash Group Vice President where he is responsible for guidance to the Federal Reserve Cash Services business and for providing direction for Federal Reserve currency and coin inventory management, engaging key supply chain participants, and supporting business continuity planning.

In addition to his current responsibilities, in this new role, Steve will also lead FedCash Office and Program Support, as well as Planning and Performance Management.

Sunil Kumar Sinha has been appointed Chairman and Managing Director of Security Printing and Minting Corporation of India Ltd (SPMCIL). He has been with the organisation since 2016, formerly as HR Director, and replaces Tripti P Ghosh, who held the position since 2018. He also sits on the Board of BNPMIPL (Bank Note Paper Mill India Private Limited, a joint venture between SPMCIL and Bharatiya Reserve Bank Note Mudran, a subsidiary of the Reserve Bank of India).

De La Rue has announced the appointment of Clive Whiley as Non-Executive Chairman of the Board, following a comprehensive selection process. He has 40 years’ experience, both as an executive and non-executive director, across a wide range of industries and geographies in regulated and listed company governance positions. Nick Bray, who stepped into the role of Interim Chairman after Kevin Loosemore’s resignation last month, will now return to his previous role as a Non-Executive Director and chairman of the Audit Committee.

Commenting on his appointment, the new Chairman said: I am delighted to be joining De La Rue, with its distinguished heritage, international outlook and a wealth of potential within the Group. I am keen to lend my proven experience and knowledge to assist management as it strives to optimise the underlying intrinsic value of the business’.

Concha Jiménez, former Director General of Cash and Branches and Board member of Banco de España, has joined the Advisory Board of Currency News.

IACA added a further four industry professionals to its Currency Hall of Fame (CHOF) at a special Hall of Fame Induction Ceremony held during the recent Currency Conference in Mexico City.

The CHOF was inaugurated in 2011 and since then, has inducted 18 outstanding individuals, including the latest four. It was founded to provide a permanent public record and memorial of the outstanding achievements of individuals who have made a significant impact in the currency industry.

The newest inductees are:

• Gregor Antes- Swiss physicist and inventor; developer of the Kinegram® feature for banknotes and government documents.

• Ron Arends - former Canadian Bank Note Company (CBN) President; who died in 2021. He shaped d CBN into the supplier the Bank of Canada needed to fundamentally change how currency was designed and manufactured for Canada.

• Malcolm Knight - in inventor or co-inventor on 11 patents relating to security document features and security document manufacturing techniques, in particular windowed threads.

• Johannes Schaede - retired Koenig & Bauer Banknote Solutions Technical Director; contributed to the development of printing solutions, printing processes and mobile app to authenticate banknotes.

Reconnaissance International, co-publisher of Currency News™, has appointed two new Regional Directors to help take forward its businesses in publishing, events and consultancy. One is Micaal Sidorov, based in the UK, who rejoins the company and is also the new Secretary General for the IHMA (International Hologram Manufacturers Association). The other is Chander Jeena, based in New Delhi, who joins the company from the Authentication Solutions Providers Association (ASPA, where he was Associate Director.