January 10, 2015
Ongoing developments in the payments industry are not only attributed to technologies and new systems but are also directly linked to talent. The innovations coming from any organization can be tied directly or indirectly to the decisions that senior executives make. Keeping that in mind, we keep a check on the talent movements within the payments industry. Here are some notable mentions from recent executive changes:
People Leaving/Joining Upstarts
Aron Schwarzkopf departed as CEO from Leaf
Aron was the founder of the mobile payments upstart Leaf and officially stepped down from the board in May last year. Leaf is the first mobile payments platform to take an agnostic approach to payment acceptance, allowing small business owners to choose the payment providers that best fit their needs. It was first to open its technology platform to third party developers, enabling them to create applications that address the myriad challenges that different small businesses face.
Paul Camp, Ex-JPMorgan Executive, joined Circle Internet Financial
Paul led JPMorgan’s global transaction services business before leaving the bank in July last year. He joined Circle, an upstart that processes digital currency transactions, as CFO & Corporate Treasurer last month. At JPMorgan, Mr. Camp oversaw the division responsible for holding and moving money for big companies and organizations. Previously, he had served in a similar role at Deutsche Bank, where he helped establish the bank as a leader in euro settlements and payments. His decision to join Circle is an indication that leaders in the traditional financial services industry are now taking digital money seriously.
People Leaving/Joining Associations & Advisory Boards
Ukash CEO David Hunter joins EPA advisory board
One of the leading payments innovators, Ukash, further affirmed its influential role in the payments sector with the selection of its Chief Executive, David Hunter, to join the advisory board of the Emerging Payments Association (EPA). The company officially made the announcement on January 5th this year. The EPA has been set up by a group of influential companies and individuals to represent those in emerging payments who want to shape their future.
Jim Harper departed as member of Global Policy Counsel from the Bitcoin Foundation
Jim left the foundation in December last year. The Bitcoin Foundation is a US based nonprofit corporation established with the mission to standardize, protect and promote the use of Bitcoin cryptographic money for the benefit of users worldwide. Jim’s exit can be linked to the Foundation’s pivot toward promoting core software development for bitcoin and fading focus towards public policy issues.
People Moving within Payments Industry
Keith Butcher departs as CFO from Optimal Payments
The CFO of payments processor and i-gaming transaction specialist, Optimal Payments, officially stepped down from the board on January 1st this year. He has over 20 years experience in financial technology strategy and has held senior managerial positions at Viatel, Eckoh Technology & Cable & Wireless. Optimal Payments has been a leading provider of credit card and ACH online transaction processing. Optimal Payments’ expertise is multi-channel merchants including internet companies/retailers who sell products, subscriptions or digital content as well as call center and catalog merchants.
Morgan Schuessler becomes CEO of Evertec after departing from Global Payments Inc
Morgan became the president & CEO and member of Evertec’s board on January 1st this year. He was the No. 3 exec at Global Payments after the CEO & COO and served as president of the company's international business. Morgan has been in leadership roles in multinational payments businesses, and has a successful track record of identifying and capitalizing on growth opportunities in current and new markets. Evertec is a large transaction processing business in Latin America, providing a broad range of merchant acquiring, payment processing and business services.
David Marcus departed as President from PayPal to join Facebook
In June last year, David left the electronic payment service to join Facebook and lead the social network’s mobile messaging efforts. David is a respected executive in the technology industry with a track record of building great products and finding creative ways to turn them into great businesses. Under David’s leadership, PayPal had delivered great new product experiences for customers and businesses, driven new innovations in mobile commerce, and achieved impressive growth.
Patrick Dai joins BTC China as Co-founder & COO
Patrick Dai is a former Chief Analyst from Alipay last month. His contributions to Alipay include an online credit-scoring system that is used to streamline the size and approval of loan applications. BTC China is one of the world’s largest bitcoin exchanges by volume. Dai’s knowledge in risk management and big data, combined with his extensive experience in traditional and digital banking, makes him a valuable asset to BTC China.
Charles J. Giglia joins Planet Payment as CIO
Charles officially took office as CIO of Planet Payment on January 5th this year. His past experience includes being founder of Dealertrack Technologies Inc.; he was part of senior executive team at JP Morgan Chase and has also served as VP Software and Infrastructure Engineering with Chase Retail Lending. Planet Payment Inc. is a leading provider of international payment and transaction processing and multi-currency processing services. Charlie’s knowledge and expertise will be instrumental in leading Planet Payment into its next phase of growth and development.
Tom Boyer joins TSYS Merchant Solutions as President
Tom officially joined TSYS as president on January 5th this year. Prior to joining TSYS, Boyer was senior vice president, portfolio management, at Bank of America Merchant Services, where he was responsible for leading sales as well as relationship and portfolio management activities for commercial and business banking customers. Tom will manage all aspects of direct-to-merchant sales, operations and customer support for TSYS Merchant Solutions’ small business and national accounts portfolio.
Andrew Borovsky departs as Product Lead from Square
Andrew announced his departure from Square on January 1st this year via Twitter. As per his tweets, he would be joining some tiny stealth startup. He was a founder of a design agency which was acquired by Square. Andrew went on to lead product design for Square’s Wallet app. A primary reason behind Andrew’s exit is Square pulling Square Wallet in favor of an order-ahead app called Square Order that lets users place pickup orders at participating coffee shops and cafes.
Stephen Goodrich joined Zipline as CEO
Zipline, formerly National Payments Card Association (NPCA), announced inclusion of Stephen to its Board of Directors in September last year. Goodrich is the founder and former CEO of PowerPay, a payments processor he guided from start-up to Inc. 500 selection in just five years. In his new leadership role at Zipline, Stephen is helping in building out the organization’s decoupled debit (ACH) and mobile payment platforms, with an eye toward emerging verticals and consumer opportunities. Randazza remains on the Board.
Note: the above information was aggregated from executive movements over the past eight months.