Marqeta SVP and managing director Jeff Parker steps down
Jeff Parker, SVP and managing director, international at Marqeta, has announced that he is stepping down from his position at the California-headquartered card issuing firm.
Jeff Parker is leaving Marqeta (Image source: LinkedIn)
Parker revealed the news via LinkedIn this week, stating “my time at Marqeta is coming to an end”. He adds that despite a relatively short tenure, he has “loved every minute”.
He first joined the paytech in September 2022 following an almost six-year stint at international business payment provider WorldFirst, where he held a variety of leadership positions, most latterly as director and CEO following the London-based fintech’s acquisition by China’s Ant Group in February 2019.
Marqeta hired Parker to build out its international go-to-market and operational functions and boost its position in the markets of Europe and APAC.
Founded in 2010 by Jason Gardner, Marqeta offers a B2B open API payments platform featuring issuing, processing, digital banking and risk control functions.
Initially securing its European foothold in London in 2018, the paytech expanded its operations to Melbourne, Australia in April 2021, followed by launches in Singapore, the Philippines and Thailand last year.
However, when the company revealed a quarterly net loss of $69 million for Q1 2023, Marqeta was forced to shut its Australian outpost “with immediate effect” in May.
As stated in his parting post, Parker acknowledges how Marqeta’s team “welcomed me with open arms and spent hours teaching me the basics of an industry I had never been exposed to”.
He gives no indication of his exact reasoning for leaving the company or what his next intentions are, but promises to “update you all shortly”.
