Earthport plc (AIM: EPO.L), the leading payment network for cross-border payments, is pleased to announce that John B. McCoy, the former Chairman and Chief Executive Officer of Bank One Corporation, has agreed to join Earthport’s Board as a Non-executive Director.
John McCoy retired as Chairman and Chief Executive Officer of Bank One Corporation in 1999, the fourth-largest bank in the United States at the time, where he had been CEO since 1984. In 2004, Bank One merged with JPMorgan Chase, creating the largest bank in the United States.
Mr McCoy is currently a Director of AT&T (NYSE:T), Onex Corporation (TSE: OCX), PGA Tour Policy Board and sits on the Advisory Boards of Second Curve Capital and FTV Capital. In addition, he is a former member of the board of trustees of Williams College and of Stanford University and past chairman of the board of trustees of Kenyon College. He is also a former member of the board of directors as well as former board chair of Battelle Memorial Institute. While at Bank One, he was a member of the US Federal Advisory Council and the Board of the Bankers Roundtable.
Born in Columbus, Ohio, Mr McCoy is a graduate of Williams College and Stanford University Graduate School of Business. He holds honorary Doctor of Law degrees from both Williams College and Kenyon College, as well as honorary Doctor of Business degrees from the Ohio State University and Michigan State University.
The appointment is subject to receipt of the standard regulatory approvals from the Financial Conduct Authority and HMRC.
Phil Hickman, Chairman of Earthport, commented: "I am delighted to welcome John McCoy as a member of our Board of Directors. John brings a wealth of experience to Earthport, as his outstanding career in banking, technology and private equity has helped numerous companies to grow and prosper. I am confident that John's strategic oversight will materially contribute to our success."
Commenting on his appointment, John B. McCoy said: “Earthport’s global payment network has the potential to transform the way in which cross-border payments are conducted across the globe, greatly improving efficiencies and reducing costs. I am therefore very pleased to be joining the Board of this exciting growth company.”
Hank Uberoi, CEO of Earthport, commented: "We are extremely fortunate to have John McCoy as our newest Director. A seminal figure in banking, John boasts a distinguished career pioneering the integration of technology to banking and finance. John's experience leading financial institutions coupled with directorships in industry and private equity will make an important and positive impact on our firm and will further strengthen our Board's breadth of talent, experience and global reach."