June 2024: Top five movers and shakers stories of the month
June has witnessed significant leadership changes across various financial institutions worldwide, with notable hires and departures.
Here, we highlight five of the top movers and shakers stories of the month featuring Payzli, Broadridge, MoneyGram, PayPal and more.
MoneyGram names Gary Ferrera as new CFO
MoneyGram’s new CFO Gary Ferrera (Image: LinkedIn)
US-based paytech MoneyGram has appointed Gary Ferrera as its new CFO, effective 10 June 2024.
Succeeding Larry Angelilli, who is heading into retirement after nearly a year in the role, Ferrera will report directly to MoneyGram chairman and CEO Alex Holmes, and will also serve on the paytech’s executive leadership team.
In his new position, MoneyGram expects Ferrera to “lead all aspects of finance, accounting, tax and treasury, in support of the continued growth and digitisation of the business”.
Prior to joining his new company, Ferrera served as CFO for several organisations, including imagery solutions firm DigitalGlobe, ATM operator Cardtronics, and most recently, automotive services provider Driven Brands.
Bill Huffman named new CEO at US asset manager Nuveen
Nuveen, the investment management arm of TIAA, the US-based retirement and investment solutions provider, has appointed Bill Huffman as its new CEO.
Huffman, who will also serve as a member of TIAA’s executive committee and chair the Nuveen executive leadership team, succeeds Jose Minaya who held the CEO role for over four years.
The new head joined Nuveen in 2008, starting as COO and co-head of Nuveen Asset Management.
Most recently, he acted as president of Nuveen Asset Management and head of equities and fixed income, where he is credited with playing a “significant role” in increasing the company’s assets under management from $800 billion in 2014, when TIAA acquired Nuveen, to $1.2 trillion.
Payzli in search of new CEO amid leadership restructuring
Payzli begins search for a new CEO
US-based paytech Payzli revealed a string of immediate “strategic changes” to its leadership team this month to “further accelerate revenue growth”.
Arash Izadpanah, the firm’s former CEO, will assume the role of chief risk officer, where he will work to expand Payzli’s high-risk channel and uphold the “highest standards of regulatory compliance and security”.
Izadpanah states his focus will now pertain to “managing risk, compliance and credit to execute our ambitious growth plans with our powerful banking partners”.
Meanwhile, Naim Hamdar, who “significantly expanded Payzli’s market presence and customer base” during his stint as the firm’s president, will move into the role of chief revenue officer.
PayPal hires Srini Venkatesan as new CTO
Payments giant PayPal has named industry veteran Srini Venkatesan as its new CTO, effective 24 June.
In this new position, Venkatesan has been tasked with leading the development and deployment of technology across the “entire PayPal ecosystem”. This remit includes areas such as AI and machine learning, product engineering, analytics and data science, information security and infrastructure operations.
Venkatesan’s “experience leading technology, digital transformation, and AI personalisation from inside some of our largest customers and partners will be invaluable”, comments PayPal president and CEO, Alex Chriss.
PayPal’s new CTO boasts a 30-year fintech career, joining directly from Walmart Global Tech, where he led the US omni and platforms technology unit. Prior to his stint at the retail technology specialist, Venkatesan acted as a VP at Yahoo, CTO at StubHub, and held various director roles at eBay.
Former HSBC exec Roz Smith named as new COO of Broadridge International
Roz Smith, Broadridge International’s new COO (Image: LinkedIn)
Broadridge Financial Solutions, which provides investor communications and technology solutions to financial institutions, has announced Roz Smith as the new COO of Broadridge International, effective 1 May 2024.
Smith has been tasked with “scaling and streamlining” the division, concentrating on “implementation processes and programme management” with a focus on “ensuring a thriving country and regional level organisational structure”.
Combined with a cohesive approach to satisfying client needs through broader, segment-specific solutions, she will also help to ensure best practices across functions, business units and geographies, applicable to the EMEA and APAC regions specifically.
Prior to joining Broadridge, Smith spent 18 years in various leadership roles at HSBC, where she began her career as a global banking associate, before rising through the ranks to conclude her tenure as head of strategy and change management for the non-financial risk unit of the bank’s markets and securities services business.
