Pockit has strategically appointed Gene Lockhart, ex-CEO of Mastercard, to its board, signaling significant growth ambitions.
- Lockhart’s experience spans leadership roles at major financial institutions, including Bank of America and Midland Bank.
- The addition of industry stalwarts like Malcolm Le May complements Pockit’s recent acquisition of fintech company Monese.
- Pockit aims to expand its reach to the ‘unbanked’ with essential financial services.
- These strategic moves underscore Pockit’s objective to scale operations and strengthen its market position.
Pockit, a fintech company, has made a significant leadership appointment by welcoming Gene Lockhart, the former president and CEO of Mastercard International, to its board. This move is part of Pockit’s broader strategy to enhance its growth and scaling plans. Lockhart’s extensive experience in leading top financial institutions provides a valuable asset to Pockit’s ambitious objectives. His tenure includes pivotal roles such as president of global retail banking at Bank of America and CEO of Midland Bank. In expressing his enthusiasm for the new role, Lockhart remarked, “Having led some of the world’s largest financial services organisations and been so closely involved with some of the most successful global fintech businesses, I can see [Pockit’s] real potential for further growth and am excited to play my part in that.”
Malcolm Le May, another noteworthy addition to the board, brings his experience as former CEO and executive chairman of Vanquis Banking Group. Le May acknowledges Pockit’s mission to offer essential financial products to individuals who risk exclusion from traditional banking services. His insight into the financial sector will be invaluable as Pockit continues to innovate and serve the unbanked community.
The appointment of these industry veterans follows Pockit’s acquisition of Monese, a strategic move that has expanded Pockit’s customer base by approximately three million users. This acquisition came to fruition after a debt agreement between the companies in September, highlighting the potential for synergistic growth and customer reach. Monese’s integration is pivotal, especially after HSBC’s devaluation of its stake, which marked a challenging period for Monese.
Pockit’s founder and CEO, Virraj Jatania, articulated the significance of these developments, emphasizing that the acquisition of Monese is a ‘game-changer’ for the company. He stated, “This is therefore the optimal time for us to be strengthening our corporate governance and building out our board with the addition of two industry stalwarts in Gene and Malcolm.” Jatania’s vision aligns with Pockit’s mission to become the lead financial services provider catering to the unbanked, reflecting a forward-thinking approach in the fintech sector.
Pockit’s strategic moves, including high-profile appointments and a key acquisition, position it well for future growth.
