Kevin Stanton appointed chief transformation
officer
Mastercard today announced the appointment of Raj Seshadri as
president for the company’s data and services organization,
reporting directly to Ajay Banga, president and chief executive
officer. She succeeds Kevin Stanton, who has taken on a new role as
chief transformation officer.
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Raj Seshadri (Photo: Business Wire)
Seshadri will draw upon her insights and successful track record
as president of U.S. issuers over the past four years. During this
time, she grew the company’s regional credit, debit, commercial and
prepaid card programs and service offerings with banks and credit
unions across the U.S. market.
In her new role, Seshadri will be responsible for the company’s
global data and services products and solutions that reinforce core
payments. Over the past decade, these capabilities have grown to
include offerings ranging from analytics and consulting, to loyalty
and engagement services. Today, the data and services team provide
a suite of end-to-end solutions that maximize data insights,
platform technology and industry expertise to help customers
deliver greater scale and success.
“From day one, we’ve benefitted from Raj’s analytical
perspectives to rethink and re-establish our contribution as a
trusted partner to our issuing customers. And, the results speak
for themselves, as we substantially grew our core, including
consumer credit, in a very competitive market,” said Banga. “As she
moves to this new role, she will build upon the established
foundations and continue to expand this truly differentiated part
of our business.”
Seshadri joined Mastercard in 2016 from BlackRock, where she was
a managing director leading the company’s iShares U.S. retail ETF
business. Prior to that she was Global Chief Marketing Officer of
iShares. Earlier in her career, Seshadri held leadership roles at
Citigroup in global strategy and small business banking; U.S. Trust
in marketing, strategy and M&A; McKinsey & Company; and
AT&T Bell Laboratories.
Seshadri received a bachelor’s degree from Mount Holyoke College
in physics and mathematics, a Master of Business Administration
from Stanford University and a Ph.D. in physics from Harvard
University.
Focus on Business Transformation
With this announcement, Kevin Stanton takes on a new role as
chief transformation officer. He will lead a team to assess the
changing economic and global trends such as localization and
nationalism, consider the impact on traditional business models and
to help shape strategy and assert the company's role in policy for
the future.
For the past two years, Stanton served as chief services
officer. He was named president of Mastercard Advisors in 2010
following a six-year tenure as president of the company's Canada
region. Stanton originally joined Mastercard in 1996 as North
America regional counsel. Before joining Mastercard, he practiced
law as an associate in the banking divisions of a number of leading
Boston law firms.
“For more than 20 years, Kevin’s has taken on new challenges,
delivering opportunities for growth at every turn. He took the
vision of what Advisors could be and evolved it into a thriving
data and services team that adds value beyond the transaction,”
said Banga. “As we enter a new decade, we’ll look to Kevin to tap
into the spirit and drive that have made him successful to help us
navigate the future.”
Changes to North America Leadership Team
Additionally, Linda Kirkpatrick will assume the role of
president, U.S. issuers, replacing Seshadri. She currently serves
as executive vice president of U.S. merchants and acceptance,
responsible for key merchant and acquirer relationships and
business development across a number of sectors.
Previously, Kirkpatrick led the company’s global rules,
standards and compliance programs. She has been with Mastercard
since 1997, serving in a range of leadership roles, including
helping to establish the Investor Relations function and supporting
the company's initial public offering in 2006 and merger with
Europay in 2002.
Kush Saxena will become executive vice president of U.S.
merchants and acceptance. He will manage U.S. merchants and
acquirers, pricing and interchange, and business developments
efforts for co-brand, prepaid, commercial, transit, healthcare and
the public sector. In addition, Kush will also coordinate merchant
activities across the globe.
For the past two years, he led the market facing technology and
operations teams, including the global technology hubs. Saxena
originally joined Mastercard in 2014 as executive vice president of
strategy, corporate development and M&A. Prior to Mastercard,
he held leadership roles at H&R Block and McKinsey &
Company.
Kirkpatrick and Saxena will both report into Craig Vosburg,
president of North America.
About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a technology
company in the global payments industry. Our global payments
processing network connects consumers, financial institutions,
merchants, governments and businesses in more than 210 countries
and territories. Mastercard products and solutions make everyday
commerce activities – such as shopping, traveling, running a
business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MastercardNews, join
the discussion on the Beyond the Transaction Blog and subscribe for
the latest news on the Engagement Bureau.
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version on businesswire.com: https://www.businesswire.com/news/home/20200113005515/en/
Mastercard Communications: Seth Eisen
Seth.Eisen@mastercard.com, 914-249-3153
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