VocaLink Restructures Company to Support International Growth
VocaLink, the payment transaction specialists, has restructured in response to international market demand for modern payment services. Effective from 4 January 2010, VocaLink will be organised around three strategic businesses focusing on euro services, clearings and cards, reporting directly into chief executive officer (CEO), Marion King. These businesses will serve both the UK market and growth opportunities, especially in continental Europe.
Payments expert Fred Bär will be managing director of the euro Services business. Before joining VocaLink earlier this year, Bär held senior positions at EBA Clearing and Equens. The euro services business is of particular strategic importance for VocaLink as the company evolves to reflect increasing demand for its payment services in the rest of Europe. Through its new European centre in Amsterdam, VocaLink will be more able to serve customer demand for its real-time payments and the single euro payments area (SEPA) valued-added services.
Nick Masterson-Jones, who has been with VocaLink since 2003 and who led the successful launch of the Faster Payments Service (FPS), will be managing director of the clearings business. David Conkleton, who previously held senior roles at EDS and Parity and brings over 20 years of experience in the IT and financial services industry, has recently joined the company and will lead the cards business. The clearing and cards businesses will not only provide operations for existing schemes in the UK such as Bacs, FPS and LINK, but will also be responsible for the commercial growth of these business units in the UK and internationally.
Having made a significant contribution to VocaLink over several years, Martin Wilson, the company’s chief commercial officer has decided to move on to pursue new opportunities outside of the company.
King said: “It has become evident over the past two years that transaction banking has provided a resilient and stable basis on which banks can build a competitive business. As a recognised leader and innovator within the payments industry, VocaLink has helped many banks throughout Europe deliver this success. At the same time, we recognise that to continue to serve our customers and the payments industry to the best of our abilities, we need a structure that reflects market requirement. Led by experts in their fields, our three businesses will allow VocaLink to not only meet customer and market demand but will enable the company to continue to grow internationally in coming years. I would also like to take this opportunity to thank Martin Wilson sincerely for his outstanding contribution to VocaLink.”