MasterCard & Citigroup

MasterCard International announced this morning that the president of Citigroup and chairman/CEO of Citigroup’s Global Consumer Group will become vice chairman of its Board of Directors. Robert Willumstad succeeds Baldomero Falcones Jaquotot, chairman of Santander Central Hispano, who was elected chairman of the MasterCard Board at today’s meeting in Madrid. Willumstad has been a member of the board since 1999. Willumstad was named president of Citigroup in January 2002 and chairman and CEO of the Global Consumer Group in December 2000. He leads all of Citigroup’s global consumer businesses including Credit Cards, Consumer Finance, and Retail Banking.

Details

ACTIVCARD BOARD

ActivCard has named a former NSA deputy director to its board. William Crowell, who also previously served President/CEO of Cylink, will join the Board of Directors immediately. ActivCard currently supplies “IDentity Management” software solutions,
including its “ActivCard Gold” and “Trinity” products, to the U.S. federal
government and government agencies around the world, as well as to enterprise
businesses, health care organizations and financial institutions. In
addition, ActivCard recently reincorporated its publicly listed corporate
parent entity as a U.S. company after years of development on the “Common
Access Card” program with the U.S. Department of Defense.

Details

GILLES LEROUX SALE

The assets of French card manufacturer Gilles Leroux S.A. have been officially acquired by Datacard Group. Datacard was awarded the right to purchase the Gilles Leroux assets in June 2002 by the Commercial Court of Orleans, France, which was overseeing Gilles Leroux since the company’s bankruptcy filing last year. The Gilles Leroux product line includes the “MPR” smart card issuance system and the “Combi” smart card production system.

Details

SAMA & BLM

The Saudi Arabian Monetary Agency, the central bank of the Kingdom of Saudi Arabia, has chosen London-based Baltimore Technologies to provide a comprehensive security solution to enable online trusted transactions for the network of Saudi Arabia-based banks. The contract is worth US$2.8 million. Baltimore “UniCERT”, the company’s flagship PKI product, will underpin the online payments systems within the banking sector to assure the integrity and authenticity of all transactions. In addition, Baltimore’s PKI technology will be used to create the “Root Certificate Authority” for the financial services industry within the Kingdom. Baltimore has partnered with Mohammed M. Al Rumaih Co. in Saudi Arabia who will provide local support and services.

Details

Providian Human Resources Chief

Providian Financial Corporation announced the appointment of Richard Leweke as Vice Chairman and Chief Human Resources Officer. Mr. Leweke was previously with California Federal Bank, where he served as Executive Vice President of Human Resources and Administrative Services and was part of the management team that developed and executed the bank’s successful growth strategy.

Details

MCDONALD

The Melbourne-based EFTPOS Engineering unit of Keycorp Limited has signed
a three-year contract to provide support for POS systems for McDonald’s
restaurants across Australia. McDonald’s Australia has over 700 restaurants
across the country. The contract includes providing 24 X 7 help desk
support for the new “Pos4” integrated food supply systems; providing
technical support for its “In Store Process” back-office systems; and,
configuring the computers for each of installation. Keycorp acquired EE in
June 2001 and currently holds over 30% of the Australian EFTPOS market in
installation, maintenance and repair services.

Details

Payless Executives

Capital One reported yesterday that its two top executives received no salary or bonus last year, as the company’s stock plunged by more than 50% during 2002. Additionally, the company reported that its UK operations became profitable for the first time in 2002. Cap One’s CEO Richard Fairbank and COO Nigel Morris also did not cash in any stock options during 2002. Last year, Fairbank’s exercisable options declined in value from $262 million to $104 million. Morris’ options decreased in value from $150 million to $57 million. Capital One also reported yesterday that its U.S. loan portfolio ended 2002 with $47.3 billion in receivables, which include some installment loans. Cap One’s international business had $5.3 billion of managed credit card receivables, mostly UK cards, however, the issuer has operations and activities in Canada, South Africa and France. At the end of 2002, the U.K. Bank had 2.8 million accounts and $3.9 billion in credit card, revolving loan, and installment loan assets. The UK Bank has been operating independently in France since 2000. Capital One also ended 2002 with 18,757 employees.

Details