It’s all change at the top for payment technology platform Global Processing Services (GPS) with the formation of a new ‘office of the chair’ and a leadership shuffle.
Joanne Dewar – chief executive officer at GPS for more than four years – has been promoted to vice chair. Replacing her in the CEO role is former-Fiserv leader Kevin Schultz. Following the role changes, Dewar will keep a place on the GPS board working alongside its chair Gene Lockhart, in a newly created office of the chair.
Global Processing Services is the payments processing partner for fintechs, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy. It has issued millions of physical and virtual cards, enabled in more than 48 countries, and processes billions of transactions on its API-first cloud-based platform.
Dewar told The Fintech Times she was extremely proud of her time as CEO. She said: “During this time the company has gone from strength to strength and successfully transitioned through a major new investment round, the building of a new management team and a significant transformation. The role I have played in scaling the company and securing investment from arguably the most impressive consortium in the payments industry is a highlight of my career.
“Looking ahead, my focus as vice chair will be on the group’s growth and global profile as it continues to power next generation payments technology. My immediate priority will be ensuring GPS has a seat at the table in important and business critical discussions that impact both GPS and its customers.
“Beyond this, I remain firm in my belief that technological innovations can transform the role of financial services in empowering people to manage their money better and improve the quality of their life. The importance of financial inclusion is something that has driven me throughout my career in finance, and will continue to do so as I take this next step.
“I look forward to working alongside our chair, Gene Lockhart, and new CEO, Kevin Schultz, whose impressive track record and experience will be a huge asset to the GPS business and its customers. Together with Gene and Kevin, I am convinced we have a winning combination which will accelerate the ability of GPS to reach its true potential.”
New CEO Shultz most recently served as Fiserv’s group president of the digital banking. Prior to Fiserv, Kevin also served as president, global financial services at First Data, following nearly 16 years at Visa, where he built out the debit processing business, Visa DPS.
Gene Lockhart, chair at GPS, said he was ‘hugely grateful for the great work that Joanne has done at GPS’.
“Under Joanne’s stewardship, the company has gone from strength to strength and successfully transitioned through a major new investment round, the building of a new management team and a significant transformation. In her new role as vice chair, she will continue to play a pivotal role in GPS’ future,” he commented.