VocaLink, the UK-based payment transaction specialist, has chalked out plans to restructure the company in response to international market demand for modern payment services.
Effective from 4 January 2010, VocaLink will be organised around three strategic businesses reporting directly to CEO, Marion King, focusing on Euro services, clearings and cards. These businesses will serve both the UK market and growth opportunities, especially in continental Europe. Through its new European Centre in Amsterdam, VocaLink will be more able to serve customer demand for its real-time payments and SEPA valued added services.
Payments expert Fred Bar will be MD of the Euro services business. Before joining VocaLink earlier this year, Mr Fred held senior positions at EBA Clearing and Equens. The Euro services business is of particular strategic importance for VocaLink as the company evolves to reflect increasing demand for its payment services in the rest of Europe.
Nick Masterson-Jones, who has been with VocaLink since 2003 and who led the successful launch of the faster payments service will be MD of the clearings business. David Conkleton, who previously held senior roles at EDS and parity and brings over 20 years of experience in the IT and financial services industry, will lead the cards business.
This restructure will allow VocaLink to operate more effectively internationally and will centre the company around the needs and expectations of its growing customer base. With all three managing directors reporting directly into Mr King, VocaLink will have simplified internal processes enabling the company to be more agile and responsive to market demands.
Mr King said: “It has become evident over the past two years that transaction banking has provided a resilient and stable basis on which banks can build a competitive business. We recognise that to continue to serve our customers and the payments industry to the best of our abilities, we need a structure that reflects market requirement.
“Led by experts in their fields, our three businesses will allow VocaLink to not only meet customer and market demand but will enable the company to continue to grow internationally in coming years.”
