One of the largest international payments networks is MasterCard Inc. (MA). Just recently, they made Ann Cairns their International Markets President to replace Walt Macnee.Â Macnee is now the Vice Chairman. Cairns will assume office on August 22, 2011. She came from a consulting company Alvarez & Marsal Inc. She will also be reporting to Ajay Banga who is the Chief Executive Officer, Purchase in MasteCard-New York.
Ann Cairnsâ€™ job description will include managing all markets and customer-related activities outside the United States. Incidentally for the year 2010, 58% of MasterCardâ€™s revenue came from outside of US as revealed by Bloomberg data.
Ann Cairns was a former employee of ABN Amro Group NV and Citigroup Inc. (C). the former is a Dutch lender while the latter is among the largest bank in the U.S. Cairns will be replacing Walt Macnee, who has been with MasterCard since 2008. And as the new Vice Chairman, Macnee will work on the senior client and government relationships of MasterCard.
MasterCardâ€™s Chief Executive Officer Ajay Banga has only but good words for Ann Cairns. She is confident that Cairns will definitely deliver excellent job based on her track record. Banga also said that besides being a good leader, Cairnsâ€™ broad knowledge in financial-services will be of great value to the company.