Management Strategies

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Executive Changes

Alex W. "Pete" Hart joins the advisory board of Payment Partners; Paul Bourke named CEO of Aurum Technology; Victor J. Menezes appointed chairman of the board for The New York Clearing House.

Alex W. "Pete" Hart, the former CEO of MasterCard and Advanta Corporation, will join the advisory board of Irvine, Calif.-based Payment Partners. As Payment Partners' newest advisory board member, Hart will engage in activities similar to a board director, receiving monthly board materials and invitations to participate in board meetings, along with the opportunity to participate in the growth and value of the company. Hart is currently a consultant specializing in payment services and consumer finance. His particular focus is on emerging technologies and their impact on distribution strategies. Prior to MasterCard, he spent ten years at First Interstate Bancorp (now Wells Fargo), and founded and chaired the CIRRUS System network.

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Paul Bourke has been named CEO of Plano, Texas-based Aurum Technology, an IT service provider to community and mid-tier banks, thrifts and credit unions. He replaces Ray Maturi, will retire from day-to-day management and will assume the role of vice chair. Bourke was most recently CEO of Houston-based Altra Energy Technologies. He was also president and COO of The BISYS Group.

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Victor J. Menezes, chairman and CEO of Citibank N.A., has been named chairman of the board for The New York Clearing House. He, along with ten Board members, is responsible for overseeing the strategy and direction of the Clearing House, the nation's oldest payments processor and bank association. The Clearing House operates several payment systems for CHIPS, EPN and SVPCo, and runs a well-respected banking association. It recently launched its five-year plan, which calls for establishing alliances and developing new systems enhancements to respond to the effects of globalization, e-commerce, and technology change. Menezes succeeds Thomas Renyi, who was chairman for two terms. Renyi will continue to serve on the board, which is comprised of CEOs of the Clearing House's eleven owner banks.

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