MasterCard has named Ann Cairns, president, International Markets, and appointed Walt Macnee, vice chairman, effective 22 August 2011. Both executives will report to Ajay Banga, MasterCard president and chief executive officer (CEO).
Cairns, most recently managing director with Alvarez & Marsal in London and head of the financial industry services group for Europe, will become president, international markets, responsible for the management of all markets and customer-related activities outside of the US. She brings more than 20 years of experience working in senior management positions across Europe and the US, running global retail and investment banking operations.
At Alvarez & Marsal, Cairns led the European team managing the estate of Lehman Brothers through the Chapter 11 process. Earlier, Cairns was CEO, transaction banking at ABN Amro in London, where she managed a global business with over €5bn in revenue in 50 countries, covering the commercial, retail and financial institutions segments, and reported to the group board and served on the bank’s executive committee. Prior to joining ABN Amro, Cairns spent 15 years with Citigroup in a variety of senior operational roles, including chief operating officer (COO), e-business, where she led US, European and Japanese operations.
Macnee, who has been president, international markets since 2008, becomes vice chairman, responsible for various senior client and government relationships – engaging these important stakeholders on key issues related to the ever-changing payments industry. In addition, Macnee will lead MasterCard’s evolving merchant strategy. Prior to this, Macnee was president of the Americas region from 2006 to 2007 and was president of MasterCard Canada from 2001 to 2004.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.