Long reads

Banking and fintech movers and shakers: World Bank, CFIT, PayPal and more

Madhvi Mavadiya

Madhvi Mavadiya

Head of Content, Finextra

Here’s a recap of the most headline worthy and recent hires, departures, and company shakeups of this February and what that could mean for 2023.


National Australia Bank revealed that more than 500 female staffers have signed up for a new in-house learning programme on cloud technology. The bank is the first company to adopt and run the Amazon Web Services ‘She Builds CloudUp’ programme in-house. The eight-week, community-based learning programme designed specifically for women seeking a career in tech or professionals looking to re-skill or cross skill. It includes digital self-paced modules, and weekly virtual Q&A sessions with AWS mentors, along with recorded sessions and shared resources.

World Bank

President Biden nominated former Mastercard CEO and president Ajay Banga to serve as president of the World Bank. Banga is being tapped to replace David Malpass, a former Trump official who is leaving the role early amid controversy about his views on the causes of climate change. Banga spent 10 years as Mastercard CEO before stepping down in early 2021 for a brief stint as executive chairman at the payments giant.


The Financial Conduct Authority has appointed seven advisors to a new Innovation Advisory Group (IAG) which met for the first time in February 2023. The IAG will help to keep it up to speed with new innovations in fintech and RegTech. The group’s experience spans artificial intelligence and other emerging technologies, competition, digital markets, financial inclusion, and sustainability. It will help to support the FCA’s current plans and initiatives for 2023 and shape its innovation pathway to better serve businesses and consumers.


The Centre for Finance, Innovation and Technology, a UK quango charged with unblocking barriers to growth for fintech, named Ezechi Britton as its first CEO this month. The creation of the CFIT was a key recommendation of the 2021 Kalifa Review of UK Fintech and HM Treasury gave the green light to the project in the 2021 Spending Review, allocating £5 million to the fund its creation.


PayPal’s president and CEO Dan Schulman announced his plans to retire from the payments giant on December 31st, 2023, but was made public knowledge this February. A successor has not yet been named, explains a press release published by PayPal, and that Schulman intends to assist the Board by creating a smooth leadership transition. Schulman will continue to serve on the board of directors.


Checkout.com announced changes to its leadership team as it prepares its strategy to bolster US expansion and take on Stripe. A spokesperson for the company confirmed that former CFO and COO, Céline Dufétel, has been appointed president and COO of Checkout.com, and will oversee all operational and go-to-market teams, including finance and marketing.


RTGS.global has appointed Jarrad Hubble interim CEO after Dave Sissens stepped down for personal reasons. Sissens, who spent nearly two years as CEO, will continue working with RTGS.global in an advisory capacity. He is replaced on an interim basis by Hubble, who has been the firm's chief commercial officer for the last year and has previously worked at Trade Ledger and NatWest Markets. Separately, from March the company's board will be joined by Phil Kenworthy, former CEO of the UK’s high-value payment system, Chaps.

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