Bacs board appoints new independent director

Source: Bacs

A new independent director has been appointed to the board of Bacs Payment Schemes Ltd (Bacs), the company behind UK payments Direct Debit and Bacs Direct Credit, as well as the Current Account Switch Service (CASS), and the Cash Isa Transfer Service.

Jo Kenrick brings a wealth of experience to the post; she has already held senior non-executive leadership positions in financial services - including seven years on a building society board, utilities, and the charity sector, as well as executive roles in a wide range of high profile organisations, from Homebase and B&Q to Camelot and Asda.

A classically trained marketer, Jo’s appointment to the main Bacs board comes as a result of the company’s governance review which identified the need to broaden the range of experience on the board. She will also become the first independent chair of the Current Account Switch Service Executive Committee, fulfilling one of Bacs’ undertakings to the Competition and Markets Authority (CMA) following its investigation into the personal current account market.

David Rigney, Bacs' independent chairman, said: "I am pleased to welcome Jo to the board. She is a great appointment for Bacs and brings substantial marketing experience that will be invaluable in developing still further our advertising and digital engagement. She is also the first independent chair of the CASS committee, a key appointment, especially since the PSR designated CASS as the alternative switching service."

Jo said: “It’s great to become a part of such an important business - there aren’t many organisations that can claim to touch the lives of almost every adult in the UK.

“I’m especially excited about working with CASS - I’ve always believed that if customer facing organisations do their jobs well, then life is better for the public, and CASS is a chance to create real competition in the current account market, to encourage all the current account providers to do a better job, which has got to make life better for anyone who banks in the UK. I’m also looking forward to working with the CMA and the PSR, as well as the Bacs team, to help shape the future of UK payments.”

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