Wednesday, November 14, 2007
More public steps for bankcard heavyweights
MasterCard Worldwide and Visa Inc. continue to progress on their separate corporate paths. MasterCard reorganized its executive team and created several new positions. Visa Inc. filed a registration statement with the U.S. Securities and Exchange Commission (SEC).
MasterCard's organizational realignment is designed to improve performance in the marketplace by broadening executive responsibilities. The company's new executive committee will oversee major policy and operating efforts across the company.
The VIPs
Robert W. Selander, who navigated the company's transition from a membership card Association to a publicly traded company, continues as MasterCard's President and Chief Executive Officer. The executive committee consists of:
- W. Roy Dunbar, President of Global Technology and Operations
- Gary Flood, President of Products and Services
- Noah J. Hanft, General Counsel and Corporate Secretary
- Alan J. Heuer, Vice Chairman
- Chris A. McWilton, President of Global Accounts
- Martina Hund-Mejean, Chief Financial Officer
- Walt M. Macnee, President of Global Markets
- Michael W. Michl, Chief Administrative Officer
- Timothy H. Murphy, President of the U.S. Region
Visa on the verge
Visa's filing with the SEC pertains to a proposed initial public offering of class A common stock. JPMorgan Worldwide Services Securities, Goldman Sachs Group Inc., Banc of America Securities LLC, Citi, HSBC Securities (USA) Inc., Merrill Lynch & Co., UBS Investment Bank and Wachovia Securities are acting as joint book runners for this offering. While the registration statement has been filed, it is not yet effective, so no Visa securities may be bought or sold at this time.
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