Payments Council names Barclays veteran Maurice Cleaves interim CEO

Payments Council names Barclays veteran Maurice Cleaves interim CEO

The UK Payments Council has brought in Barclays veteran Maurice Cleaves as interim CEO to guide the body as it prepares for a change of direction ahead of the introduction of a new payments regulator.

Cleaves will begin in November, taking the reins from Gerard Lemos, who temporarily became executive chairman after previous CEO Adrian Kamellard quit last month.

The new man will take charge as the once all-powerful Council begins "refocusing" to prepare for the introduction of the utilities-style Payment Systems Regulator (PSR), which will become operational next April.

Says Lemos, who will revert to his old role of independent chairman: "We are delighted that Maurice has agreed to lead the Payment Council. His experience and knowledge will be critical to help us prepare for the new payments regulator. We need to be ready to help support the regulator in meeting its objectives - whilst building upon our past successes, delivering real and positive change for customers."

In a 30 year banking career, Cleaves has most recently been at Barclays as global head of cash management, MD and a member of the corporate bank executive committee with a co-head responsibility for all products.

He has also worked at Deutsche Bank and JP Morgan and been chairman of the Ibos Association, director of Swift UK, and on the Payments Council board.

Says Cleaves: "This is a fabulous opportunity to help shape the future of the payments industry in the UK and I look forward to putting all my energy, experience and knowledge to good use in the role...I look forward to building on this success to help guide the payments industry through the transition to a new regulatory environment."

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