BAML’s Asia-Pacific head of transaction banking, Ivo Distelbrink, has joined the global payment technology provider, First Data Corporation (NYSE:FDC), to lead its business in the Asia Pacific region.
In his new role, Mr. Distelbrink will be tasked with developing First Data’s growth in the APAC market, a region in which the company has spent more than two decades offering innovative solutions.
Back in March 2010, Mr. Distelbrink was originally appointed as managing director and head of Global Transaction Services at Bank of America Merrill Lynch. Prior to this position he worked as managing director at Citigroup since 2008. Earlier in his career, he also held various roles for over 16 years across Citigroup, with a special emphasis on Asia and emerging markets. His long tenure included roles as Managing Director of GTS for China, CEO and Corporate Bank Head for New Zealand, and COO and Director of Strategic Planning for Global Corporate Banking in Brazil.
Based in Singapore, Distelbrink will also serve on First Data’s Management Committee. He will report globally to Chairman and CEO Frank Bisignano.
Announcing the appointment, Chairman and CEO Frank Bisignano said: “I am delighted to welcome Ivo to the First Data team as he prepares to lead our business in APAC, where we see significant growth opportunities for First Data.”
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“With more than 20 years of global banking experience, coupled with extensive regional knowledge, Ivo is the right leader to take advantage of emerging industry trends in APAC, including the continued shift to eCommerce and mobile payments,” he added.
The Georgia headquartered firm, which processes 2500 transactions per second, is a payment technology company that handles a wide range of services including credit card processing.
After an eight-year spell as a private company owned by multinational private equity firm KKR & Co., which back in 2014 managed to raise $3.5 billion in equity, First Data returned to Wall Street in the largest US IPO in 2015. In 2007, L.P. KKR & Co. acquired First Data for about $26 billion, in one of the largest leveraged buy-outs in the history. The deal kept First Data in the red for years.
Ivo Distelbrink also commented: “Having spent much of my career in APAC, I see enormous potential for First Data to further establish itself as a leading commerce enabler in the region, as well as expand its client base. I am excited to join First Data and build upon the company’s transformation that Frank and the Management Committee have driven in recent years.”