Who’s Mastercard? A payments titan
Mastercard often has a little “tap” symbol when consumers tap to pay with a card or digital wallet. Mastercard connects cardholders, merchants, banks, and businesses, not issuing credit. Key payments behemoth facts:
Origins and History
- Going public in 2006
- It was renamed Mastercard in 1979.
- Business Model: – Processes over 65,000 payments transactions per second globally; – Earns revenue from the card issuer, acquirer, and merchant feesFiscal 2022 net revenue: $22.7 billion.
- Products, Networks, and Services
- Operator of Mastercard, Maestro, and Cirrus payment card networks
- Services include cyber security, data analytics, loyalty, and payment gateways.
- Allows contactless, Q.R., biometric, and A.I. payments
- In over 210 nations and territories
- 72% of North America and Europe’s net revenue
- The second-largest card network by volume after Visa
- Ranking #258 in Fortune 500 list of America’s largest firms
The Career of Warren Kneeshaw
Purchase, N.Y. (BUSINESS WIRE): Mastercard Incorporated (NYSE: M.A.) named Devin Corr executive vice president of investor relations on May 1, 2023. This appointment follows Warren Kneeshaw’s Mastercard retirement.
Mastercard hired Kneeshaw in 2016. He successfully managed investor relations amid a CEO and CFO transition, making Mastercard’s investor relations program well-known. Kneeshaw will advise and work on special projects until the year’s end.
Before joining Mastercard, Kneeshaw worked in finance and investor relations at Qualcomm, Textron, Nortel Networks, and Procter & Gamble.
CFO Sachin Mehra said Warren has helped the company’s investor profile rise over the past six years. Over the past five years, his deep contacts with the investment community and across the company have helped us develop our plan and manage a challenging economic climate.
Executive Vice President of Investor Relations Corr will manage the team cultivating investor connections. His team will continue to educate and update investors and inform management and the board of market sentiment. Corr will collaborate with the management committee, corporate controller, and corporate secretary to educate stakeholders.
Devin Corr’s Journey to the Top
Devin brings a fresh perspective to this role. Mehra has a solid understanding of our complex business, and his experience on numerous equities desks will help us grow our engagement with stockholders and the investment community.
Corr is Mastercard’s Data and Services CFO. Before this role, he led finance for Consumer Products and the UK, Ireland, Nordic, and Baltics divisions. Corr began managing American customer risk management for Mastercard in 2013.
Corr formerly worked in stock trading at UBS and equity research at Bank of America/Merrill Lynch. He visited G.M.’s treasurer’s office. Corr has a Bachelor of Mathematics and Economics from Cornell University and an MBA from Harvard Business School.
Head of Investor Relations duties
Team management: Corr will oversee the investment community relations team. This team is critical to informing investors about Mastercard’s operations and ambitions.
Feedback Channel: Giving management and the board market feedback on the company will be a priority.
Collaboration: Corr will work closely with the management committee, corporate controller, and corporate secretary. This collaboration strives to transmit vital information to varied stakeholders efficiently.
Sachin Mehra’s Appointment View
Mastercard CFO Sachin Mehra commented on the developments. He commended Kneeshaw’s longtime achievements, highlighting his extensive investment community and organization contacts. Mehra also praised Corr’s broad background and distinct outlook. His equity desk experience should improve Mastercard’s connection with stockholders and investors.
Mastercard-Devin Corr relationship
In 2010, Corr joined Mastercard after nearly two decades in financial services, including critical roles at Goldman Sachs and JP Morgan. Since then, he has helped develop and implement the company’s financial markets strategy.
Corr’s choice shows Mastercard’s commitment to shareholder value. The Mastercard management team added, “Our faith in Corr’s ability for this post is unshakeable, and we look forward to his upcoming contributions.”
Devin Corr said, “I am pleased about taking on this new role at Master-card.” I enthusiastically anticipate working with the investing community to build on the company’s longstanding reputation for shareholder returns.
Master-card, a global payment network, hires Devin Corr as head of investor relations. This global financial services provider, run by its member banks, facilitates electronic transactions between businesses, financial institutions, and customers. Amazingly, it serves over 225 million individuals globally.
That’s it, folks. The company is changing leadership and hiring a new investor relations chief. Devin Corr’s finance and technological experience is intriguing. Corr has enormous shoes to fill after Ajay Banga’s 13-year stint, but her expertise and fresh perspective could improve Master-card’s investor relations. As shareholders and stakeholders, we’re excited to witness her influence and wish her well in her new post. The company has a bright future, and we’re pleased to join them.