New CFO takes charge at clearing house
BACS, the UK automated clearing house, has recruited a new chief financial officer from IBM.
Richard Parker, a fellow of the ICAEW, has more than twenty years experience in finance. At IBM he led a number of merger and acquisition projects for UK and European banks.
He will play an important role in BACS strategy of moving from a not-for-profit organisation to a commercial undertaking.
Commenting on his appointment Parker said: I am delighted to have joined BACS at this time. We have processed over 46 billion payments for UK plc since we started trading and we will create even greater value for companies by further enhancing our capabilities in the future”.
BACS processes over 3.7 billion financial transactions annually and is used by all the FTSE 100 companies.