The appointment comes at a pivotal time in moneycorp’s journey to become a world-leading and truly global digital payments platform.
Formerly President of New Payment Platforms at Mastercard, David has an unrivalled track record of leading transformation and growth in global financial services businesses. He will draw on this experience to position moneycorp at the forefront of innovation in digital payments, including frictionless cross-currency services, in order to meet the growing needs of marketplaces in acquiring and merchant banking.
During his career, David has spearheaded the expansion and development of companies including First Data (now Fiserv), increasing international revenue from $250m to $2bn, and as President, Western Union. He also led the transformation of Vocalink from a heavily regulated “utility” to an international payments platform, culminating in its sale to Mastercard.
David’s private equity Board experience, facilitating major evolutions within the payments sector across the US and Europe, including Advent International where he served as Operating Partner and Board Member of WorldPay and Concardis, will help drive moneycorp’s ambitious growth plans.
Mark Horgan, Chief Executive Officer at moneycorp, said:
“We are thrilled to welcome David to our Board at an exciting time in moneycorp’s evolution, and look forward to the insights he will bring.
“moneycorp is poised for further growth through our diverse payments, multi-currency services, accounts and hedging products for SMEs, which provide access to better, cheaper and more flexible platforms. David will play a vital role in enhancing our offering, to cement moneycorp’s position as a digital-first and truly global payments platform.
“Our mission is to help our customers make more money through frictionless commerce. As a recognised thought leader in scheme, bank and off-net payments, David will help us unlock new opportunities, so we can help more customers to thrive in an increasingly global world.”
Commenting on his appointment, David Yates said:
“I’m excited to join moneycorp at a time when it’s poised to lead a major shift in international digital banking and payments.
“moneycorp’s ambition to become a truly global entity is exciting to me and is a natural fit for my experience. I look forward to working with a dynamic and driven team to further enhance moneycorp’s multi-currency capabilities, to reach new and underserved customers.”
David’s appointment follows the recent hire of Velizar Tarashev as CFO, who will play a vital role in maintaining moneycorp’s strong performance and maximising growth opportunities.
International fintech moneycorp operates in six of the world’s largest markets - the UK, Europe, North America, Canada, Brazil and Hong Kong. Its operations are underpinned by strict regulations and two banking licences, providing expert and trustworthy services across the globe.