Mastercard Selects New President For European Operations

Mastercard has appointed Mark Barnett as president of its European business headquartered in Brussels. He will be tasked with developing strategy, direction and comprehensive success of Mastercard’s operations across 53 countries in Europe.

Mastercard’s European businesses cater to more than 950 million people via business partnerships with retailers, financial institutions (FIs) and other companies. Barnett will join Mastercard’s Management Committee on June 1 and will report to Gilberto Caldart, president of international for Mastercard.

Barnett said in a statement on Monday (May 4) that Mastercard in Europe is a unique locale in that it is “the only true multi-rail payments technology company in Europe,” which puts it in a solid position to offer “simple and secure ways to pay and get paid.”

He added that he is eager to build on the company’s ideology to “drive new technology and innovation” and to be the “partner of choice.”

Barnett brings to his new role a deep understanding of emerging payment technologies and 20-plus years of retail banking and payments industry experience, per the announcement. He joined Mastercard in 2003 and headed the company’s European and global consulting divisions.

“Mark brings with him a wealth of knowledge and experience. He has a proven track record in building new and meaningful partnerships while creating a culture that fosters new thinking and new ways to deliver,” said Caldart.

He added that Barnett has “a laser focus” on driving growth “across multiple product lines and geographies,” and has promoted “country-level transformation” while introducing Mastercard’s multi-rail capabilities.

Barnett is taking the place of the current president of 15 years, Javier Perez, who is retiring at the end of 2020. Perez joined the company in 1996 and was a driving force in the growth of payments. Perez also formed partnerships with various businesses, government entities and regulators to advance ingenuity and confidence in the payment landscape.

“Javier has driven deep partnerships with local, regional and global customers, opened up new markets, and navigated and maximized new regulation and legislation,” said Caldart. “He has diversified our business to set us up for continued success while making Mastercard a true market leader across Europe. Javier will leave behind him a tremendous legacy, and on behalf of our entire organization, I would like to sincerely thank him for the significant contributions he has made in building and growing our business.”

Ajay Banga, Mastercard’s longtime chief executive officer, is stepping down on January 1, 2021 to serve as executive chairman. He will be succeeded by Mastercard’s Chief Product Officer Michael Miebach, who first joined the company in 2010 as president of the Middle East and Africa.