August 2024: Top five movers and shakers stories of the month
August has seen significant leadership changes at financial institutions worldwide, with numerous key hires and departures occurring throughout the month.
Here, we highlight five of the top movers and shakers stories in August, featuring Stripe, USAA, FNZ, Volt, and more.
Stripe CTO David Singleton to step down after seven years to start own company
Outgoing Stripe CTO David Singleton (Image: LinkedIn)
David Singleton, chief technology officer (CTO) at US fintech titan Stripe, has announced he is set to end his seven-year tenure at the firm to “try something new” and start his own company.
Announcing his decision on LinkedIn, Singleton recalls reaching out to Stripe’s content strategist, Patrick Collison, and corporate officer, Claire Hughes Johnson, back in 2017 “not about the possibility of joining Stripe, but rather to ask for advice about a company I was planning to start then.
“While they gave me some great advice about my ideas, I came away *most* excited about joining Stripe’s mission and decided to come onboard. Now, it’s time for me to pick up my start-up dreams again and start something new on my own.”
Singleton is passing the CTO reins to Rahul Patil, who has been with Stripe for four years and has been serving as deputy CTO since January.
FNZ group CEO Adrian Durham to step down
Adrian Durham, the founder and group CEO of London-based global wealth management platform FNZ, is to step down after 21 years as CEO.
Durham has announced that “now is the right time to transition” as he shifts to the role of non-executive founding director and senior advisor.
He will maintain his seat on the group’s board and continue as a major shareholder in the company.
Durham will hand the reins to Blythe Masters, a former JP Morgan executive, who has been named as the group’s new CEO.
USAA president and CEO Wayne Peacock to retire in 2025
Peacock plans to retire in H1 2025 (Image: LinkedIn)
Wayne Peacock, president and CEO of the US military-focused financial institution USAA, is set to retire after a 36-year tenure with the company.
In a LinkedIn post, the outgoing CEO announced his plan to retire in the “first half of 2025, once a successor is named”.
USAA board chairman and retired Navy vice admiral Jim Zortman added that the board is currently “evaluating its list of internal and external candidates”.
Peacock, who will stay with the firm to ensure a “smooth transition” during the leadership change, has been with USAA since 1988. During this time, he has led the company’s strategy, marketing, technology, corporate real estate, and member service teams.
Lloyds Banking Group names Rohit Dhawan as new group director of AI and advanced analytics
Lloyds Banking Group has appointed Rohit Dhawan as director of AI and advanced analytics, a newly created role.
In his new position, Dhawan will oversee the bank’s AI Centre of Excellence, shaping its AI, machine learning, and advanced analytics strategy. He will report directly to Ranil Boteju, the group’s chief data and analytics officer.
Additionally, Lloyds says Dhawan has been tasked with promoting the adoption of AI-driven products and services to “enhance and transform the experience for the group’s 27 million customers”.
Dhawan joins from Amazon Web Services, where he acted as the regional head of data and AI strategy for Asia-Pacific over the past three years. Prior to his stint at AWS, Dhawan served as a director in Accenture’s applied intelligence group and as the company’s head of ASEAN customer and marketing intelligence.
Volt’s co-founder and chief growth officer Jordan Lawrence steps down
Co-founder Jordan Lawrence to step away after five years at Volt (Image: Volt)
Jordan Lawrence, the chief growth officer (CGO) and co-founder of UK paytech Volt, has called time on his five-and-a-half-year tenure at the company.
Announced via a post on LinkedIn, Lawrence says he is stepping back from the business he co-founded in 2019 with Tom Greenwood (CEO) and Steffen Vollert (COO) to “spend more time with my family and explore new opportunities that align with my passions”.
While reflecting on his time at the firm, Lawrence highlights the “importance of balance,” stating that “success is not just about growth metrics; it’s about maintaining a work/life balance – a lesson I’m embracing as I take this next step”.
In Lawrence’s role as Volt CGO, he oversaw the enterprise’s global sales and marketing strategies.
