CardWeb.com’s CardExecs database of payments industry movers and shakers today features James Nevels a new member of the First Data Board of Directors.
James E. Nevels has joined the First Data Board of Directors. He is the Chairman of The Swarthmore Group, an investment advisory firm, as well as Chairman of The Hershey Company Board of Directors.
CardWeb.com’s CardExecs database today features Frank Martien,
Partner, Commercial Payments, First Annapolis Consulting. First Annapolis advises credit and debit card issuers, transaction processors, payment networks, retailers, and other industry stakeholders in payment-based sectors of the financial services industry.
Joshua S. Rosenblatt has joined the Frost Brown Todd (FBT) Nashville office as part of the firm’s new electronic payments industry team. With experience representing and advising clients in complex mergers and acquisitions, securities law and general corporate law, his practice has primarily been focused in the electronic payments and healthcare industries. He has served as lead associate counsel for several mergers/ acquisitions in the $100-750 million range, while also having assisted small start-ups, large entities and public companies in a wide scope of operational and strategic business matters. Rosenblatt will oversee the electronic payments industry team to serve clients in this technology driven and rapidly evolving industry both domestically and globally. Frost Brown Todd’s Nashville team is anchored by more than 30 attorneys counseling current and future business leaders.
Lynda Godkin has been appointed Vice President and General Counsel for Evolution Benefits electronic benefit card payment services. Since 2006 she has served as program manager for the “TeacherDollars” Program at Evolution Benefits, provided to over 800 teachers in the Hartford Public Schools to purchase much needed educational materials and teaching supplies. Godkin will also continue in her duties as Senior Vice President and General Counsel for Womenâs Health, USA business partner for physicians, which she joined in 2006. Womenâs Health and Evolution Benefits share certain administrative and corporate services. She holds a B.A. Magna Cum Laude from Mount Holyoke College and a J.D. from Western New England College School of Law, where she was Editor of the Law Review.
The underwriters of VISA Inc.s’ initial public offering exercised their over-allotment option to purchase an additional 40.6 million shares at $44 per share. The action boosted the VISA IPO to $19.1 billion as it trades nearly at $60 per share this morning. VISA’s IPO was the largest domestic initial public offering in U.S. history and the third largest initial public offering worldwide. To mark the occasion, VISA’s Chairman and CEO Joseph W. Saunders yesterday rang The Opening Bell at the NYSE and was joined on the trading floor by 30 middle school students from the Kappa V School in Brooklyn, NY. The students were on hand to view the first public trade of VISA shares, which Saunders personally conducted on behalf of the Teach for America Program, the national corps of top college graduates who commit two years to teach in rural and urban public schools.
CA-based Tranax Technologies has formed a Board of Directors including Wolfgang Hausen, Jack McDonnell Jr., Dr. Kathryn Hanson; Dr. Hansup Kwon and Heemook Kwon. The role of the newly-created board of directors will be to serve as a sounding board and counsel to help the CEO and executive team evaluate and respond to strategic business opportunities and challenges. The charter will also include accelerating the implementation of practices, people, and strategies needed to expand and grow Tranax. The five board members will serve for 3 years and will provide best practices related to corporate strategy, operations and general management. Tranax provides the design, development, manufacture and sale of self-service technology to the retail, banking, hospitality, entertainment, and gaming industries.
Discover Financial Services announced that Stan Paur, who has served as President and CEO of PULSE EFT Association for more than 23 years, will become Chairman of the network effective March 31st. David Schneider, PULSE EVP and Chief Corporate Development Officer, will succeed Paur as President, reporting to Diane Offereins, EVP/CIO of Discover Financial Services. Offereins oversees the operations of PULSE, which Discover Financial Services acquired in January of last year. Schneider has been associated with PULSE for more than 18 years. The PULSE ATM/debit network serves more than 4,100 financial institutions and more than 3.2 million merchant terminals and 250,000 ATMs.
Denise Fletcher, former EVP/CFO of MasterCard has been named to the Orbitz board of directors. Fletcher has been on the board of Unisys Corp. since 2001 and is a member of its audit committee and nominating and corporate governance committee. From 2000 to 2003, Fletcher was executive vice president and chief financial officer of MasterCard, a global payment solutions company, where she was responsible for finance, planning, internal audit, new markets, investments and procurement. Orbitz is a leading online travel company that enables travelers to search for and purchase a broad array of travel products, including airline tickets, lodging, rental cars, cruises and vacation packages.
Fort Worth, TX-based First American Payment Systems has hired Howard Herndon as EVP/General Counsel. Mr. Herndon has substantial experience in matters involving the electronic transactions industry, mergers and acquisitions, securities and corporate finance, and venture capital financing. Mr. Herndon received his Bachelor of Arts degree from Washington and Lee University, graduating magna cum laude, in 1981. He was a member of Phi Beta Kappa. First American Payment Systems, L.P. provides full service credit card processing for merchants throughout the United States.
MasterCard’s U.S. Region Board yesterday elected Capital One CEO Richard Fairbank as its new chairman to succeed MBNA Vice Chairman Michael Rhodes, who served as chairman since 2000. MasterCard also announced that Richard Srednicki, head of the credit card business at JPMorgan Chase, has been named as vice chairman of its U.S. Region Board. Additionally, MasterCard said that Jeffery Dye, president of GE Capital Financial, and Tom Wimsett, president and CEO of National Processing Company, were also named to its U.S. Region Board. Other continuing board members include Eula Adams, EVP of First Data; Steven Freiberg, president & CEO, North America Cards, Citigroup; Richard Hartnack, vice chairman, Union Bank of California; Alan Heuer, SVP of MasterCard International; John Klein, president & CEO, People’s Bank; Ruth Ann Marshall, president, North America, MasterCard International; Siddharth Mehta, group executive, Household International; Patrick Swanick, president & CEO, Key Electronic Services; Mark Wright, president & CEO, USAA Federal Savings Bank; and Ronald Zebeck, president & CEO, Metris Companies, Inc.
Capital One Financial Corp. announced the appointment of Dorothy Broadman to Director of Corporate Citizenship. Broadman joins Capital One from the California Federal Bank (Cal Fed) where she managed the bank’s community development department.
Broadman will oversee the management of Capital One’s community affairs, philanthropy, volunteerism, non-profit partnership programs, financial education programs and community development lending and investments, as well as the company’s compliance with the Community Reinvestment Act (CRA).
The Federal Reserve Board recently appointed Broadman the 2002 Chair of the Board of Governor’s Consumer Advisory Council, which advises the Fed on consumer matters, including privacy, consumer protection laws, and CRA. She served as Vice Chair of the Council in 2001.
“Our communities provide us with associates who are key to our achievements, customers who are the bedrock of our business, resources that allow our business to thrive, and support that enable us to operate,” said Nigel W. Morris, Capital One’s President and Chief Operating Officer. “Our commitment to our communities is deep, combining the real strength of Capital One — our associates — with financial resources to provide long-term support to programs that help children at-risk.”
“We created the position of Director of Corporate Citizenship to build on our successful community programs and achieve greater synergy between our volunteerism, philanthropy and community investments,” said Richard A. Woods, Capital One’s Senior Vice President for Corporate Communications, which includes Corporate Citizenship. “Dorothy is the ideal candidate for the position.”
At Cal Fed, Broadman was responsible for customer diversity, community outreach/corporate giving, community development loans and investments, and CRA compliance. Earlier in her career at Cal Fed, Broadman managed the affordable multifamily lending unit. Broadman served in CRA and market-rate commercial real estate lending positions at Citibank and Wells Fargo Bank before joining Cal Fed in 1989.
Broadman currently serves on the Consumer Bankers Association Community Reinvestment Committee, is a member of the Board of Directors of the Low Income Housing Fund, and is a member of the Board of Directors and Chair of the Regulatory/Legislative Committee of the National Association of Affordable Housing Lenders (NAAHL).
Broadman earned a M.B.A. from the University of California at Berkeley and a B.A. from Tufts University with summa cum laude honors and membership in the Phi Beta Kappa Society.
Headquartered in Falls Church, Virginia, Capital One Financial Corporation ([http://www.capitalone.com] e.com/> ) is a holding company whose principal subsidiaries, Capital One Bank and Capital One, F.S.B., offer consumer lending products. Capital One’s subsidiaries collectively had 43.8 million customers and $45.3 billion in managed loans outstanding as of December 31, 2001. Capital One, a Fortune 500 company, is one of the largest providers of MasterCard and Visa credit cards in the world. Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 500 index.