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Payments Council names Richard North chairman

30 March 2010  |  3841 views  |  0 Source: Payments Council

The Payments Council announces today (30th March) that it has appointed Richard North as its new independent Chairman.

Mr North, a former Chairman of Woolworths and Britvic and CEO of InterContinental Hotels Group, will take up this part-time role after Easter (6th April). He takes over from Interim Chair, Professor Martin Cave.

In keeping with requirements set by the Office of Fair Trading's Payment Systems Task Force, the Chairman of the Payments Council is an independent, non-industry post. The selection of Mr North was made by four Directors of the Payments Council Board, two of whom are independent Directors. Mr North succeeds Brian Pomeroy who stepped down at the end of October 2009 to take up a non-executive director role on the Board of the Financial Services Authority.

Martin Cave, interim chair of the Payments Council says "I am delighted that Richard has accepted the role as the new Chairman of the Payments Council. His leadership qualities and expertise speak for themselves and his experience of non-banking sectors will be key as he takes the organisation forward."

Richard North said "I am extremely pleased to be taking on this significant responsibility as the work of the Payments Council moves into a new phase. There is much to be done following the Council's decision to set a target date for the closure of the cheque clearing. I intend that the Payments Council should provide clear leadership, especially in ensuring that the interests of all types of cheque user are taken into account; and in the short-term, ensuring that we set appropriate criteria for our decision in 2016 whether closure can proceed in 2018."

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