MasterCard Incorporated (NYSE:MA) today announced it has named Ann Cairns, President, International Markets, and appointed Walt Macnee, Vice Chairman, effective August 22, 2011.
Both executives will report to Ajay Banga, MasterCard President and Chief Executive Officer.
Cairns, most recently Managing Director with Alvarez & Marsal in London and Head of the Financial Industry Services group for Europe, will become President, International Markets, responsible for the management of all markets and customer-related activities outside of the United States. In this role, she will leverage the company's seamless global structure and presence to the benefit of all stakeholders. Cairns will also become a member of the company's Executive Committee.
Cairns brings more than 20 years of experience working in senior management positions across Europe and the U.S., running global retail and investment banking operations.
At Alvarez & Marsal, Cairns led the European team managing the estate of Lehman Brothers Holdings International through the Chapter 11 process. Earlier, Cairns was CEO, Transaction Banking at ABN-AMRO in London, where she managed a global business with over 5 billion euros in revenue in 50 countries, covering the commercial, retail and financial institutions segments, and reported to the Group Board and served on the bank's Executive Committee. Prior to joining ABN-AMRO, Cairns spent 15 years with Citigroup in a variety of senior operational roles, including Chief Operating Officer, e-Business, where she led U.S., European and Japanese operations.
Macnee, who has been President, International Markets since 2008, becomes Vice Chairman, responsible for various senior client and government relationships - engaging these important stakeholders on key issues related to the ever-changing payments industry. In addition, Macnee will lead MasterCard's evolving merchant strategy.
Prior to his role as President, International Markets, Macnee was President of the Americas Region from 2006 to 2007 and was President of MasterCard Canada from 2001 to 2004.
"I'm pleased to announce the appointment of Ann Cairns as President, International Markets," said Ajay Banga, President and Chief Executive Officer, MasterCard. "Ann is a proven leader with a track record of delivering outstanding results. Her leadership, extensive financial services expertise and global experience will benefit our customers, and bring value to our company.
"Throughout his career with MasterCard, Walt Macnee has made significant contributions to the success and growth of our business," continued Banga. "Now, as Vice Chairman, Walt's considerable experience, established relationships and knowledge of global markets will be instrumental as we work to deliver increased value to customers, merchants and governments around the world."