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Visa International has tapped Joseph Saunders to be chairman and CEO when it becomes a public company later this year under the name Visa Inc. Saunders had been serving as executive chairman of Visa International's board of directors and was chosen for the new post on agreement from the three entities (Visa USA, Visa Canada and Visa International) Visa will merge into the new public company, Visa Inc.
Saunders, 61, will oversee Visa as it forms Visa Inc. Before joining the card company, Saunders was president of card services for Washington Mutual Inc. after it bought Providian Financial Corp., one of the leading U.S. credit card issuers, in 2005. As Providian`s chief
executive, he oversaw Providian`s post-recession turnaround in 2001 and 2002.
From 1997 to 2001, he was chairman and CEO of Fleet Credit Card Services at FleetBoston Financial Corp.
Visa handled $4.6 trillion in transactions last year, up 14 percent from 2005.
[Compiled from News Services] |
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