Visa poaches Bradford & Bingley chief

Visa poaches Bradford & Bingley chief

Visa has named Bradford & Bingley chief executive Christopher Rodrigues as its new president and CEO.

Rodrigues, 54, has been the group CEO of UK financial services firm Bradford & Bingley since 1996, leading the organisation through a successful demutualisation in 2000. Prior to this he was chief executive of travel firm Thomas Cook.

At Visa, he takes over from Malcolm Williamson who has retired after a five-year term as head of the international cards and payments group. Rodrigues will move to his new post in June.

Bradford & Bingley has named Steven Crawshaw, currently in charge of the bank's lending and savings business as Rodrigues' successor.

Shares in Bradford & Bingley rose slightly as City analysts welcomed Rodrigues' departure. His strategy to transform B&B from a traditional high street operator into a broker of third party products is considered to have left the company exposed to the vagaries of the markets. "Mr. Rodrigues was not the most popular CEO and his departure may be well received," noted analysts at Fox-Pitt Kelton.

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