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Mastercard Names Harit Talwar to Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Mastercard (NYSE: MA) has appointed Harit Talwar as an independent director, effective April 1, 2022. Talwar brings over 35 years of experience in consumer payments and banking, having previously led Goldman Sachs’ Marcus, a leading neobank. His past roles include chief marketing officer at Discover and managing director at Morgan Stanley. The board expects Talwar's extensive knowledge to enhance Mastercard's strategic direction during its growth phase.
Positive
Harit Talwar's extensive experience in consumer payments and banking is expected to strengthen Mastercard's leadership.
Talwar's background includes successful ventures in creating large-scale banking solutions, such as the Marcus platform.
Negative
Concerns about potential gaps in continuity or experience for Mastercard’s board with the addition of a new independent director.
PURCHASE, N.Y.--(BUSINESS WIRE)--
Mastercard Incorporated (NYSE: MA) today announced that its board of directors has named Harit Talwar as an independent director, effective April 1, 2022.
“Harit is a unique leader who has had great success in the consumer payments, digital and traditional banking worlds,” said Merit Janow, independent chair of Mastercard’s board of directors. “His accomplishments in payments speak for themselves, as he delivered results and consumer value at every step in a global and groundbreaking career. We expect his experiences will deepen the Board’s ability to provide guidance to the company for the next phase of our growth.”
Throughout his 35-year career, Talwar has held various payments and consumer banking leadership positions across the globe. Most recently, he led the creation of Marcus, Goldman Sachs’ first consumer business. In just five years, Marcus became one of the world’s largest neobanks.
Previously, he was chief marketing officer of Discover Financial Services and president of the company’s U.S. cards business. He also served as managing director of Morgan Stanley’s Consumer Banking Group International following a 15-year tenure at Citi, which saw him leading businesses across Europe, India, the Middle East and North America.
He currently serves as co-chairman of the American India Foundation and sits on the Asia Society’s global board of trustees. He is also a founder and trustee of Ashoka University, a liberal arts school focused on helping students prepare to be ethical leaders in an increasingly complex world.
Talwar holds a bachelor’s degree in Economics from Delhi University and a Master of Business Administration from the Indian Institute of Management Ahmedabad.
About Mastercard Incorporated (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. www.mastercard.com
Who is Harit Talwar and what role is he taking at Mastercard?
Harit Talwar has been appointed as an independent director at Mastercard, effective April 1, 2022.
What experience does Harit Talwar bring to Mastercard?
Talwar brings over 35 years of experience in consumer payments and banking, having led Goldman Sachs’ Marcus and held significant roles at Discover and Morgan Stanley.
When did Harit Talwar join Mastercard's board?
Harit Talwar officially joined the board of Mastercard on April 1, 2022.
How might Harit Talwar's appointment impact Mastercard's growth?
His extensive experience in the payments industry is expected to provide valuable guidance and insight as Mastercard continues to expand.
