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Tracey Black to Depart; Kristina Logue and Jude Pinto Appointed Interim Co-Chief Executive Officers, Effective April 1, 2024, Board Initiates Comprehensive Search for Successor
OTTAWA, ON, Feb. 7, 2024 /CNW/ – The Payments Canada Board of Directors today announced that Tracey Black, who joined Payments Canada in 2018, made the decision not to renew her term as President and CEO of Payments Canada. Over the last five years, Black has led a series of major payment modernization initiatives, serving Canadians with secure, efficient, and resilient payment systems, and laying the foundation for continued innovation. The Payments Canada Board of Directors and Black feel it is an opportune moment to seek her successor in advance of the next phase of payment modernization. Black will complete her leadership term through the end of March 2024. The Board will initiate a comprehensive internal and external search process to identify Black’s successor, who will lead the organization through the next phase of payment innovation. Until a successor is named, the Board has appointed Kristina Logue, Chief Financial Officer (CFO) and Jude Pinto, Chief Delivery Officer (CDO), as interim co-CEOs, effective April 1, 2024.
“On behalf of Payments Canada’s board of directors and all of our employees, members and stakeholders, I would like to thank Tracey for her many contributions to the organization through her leadership over the past five years,” said Garry Foster, Chairman of the Board of Directors of Payments Canada. Board of Directors of Payments Canada. ” Tracey’s leadership has been very important to Payments Canada’s progress in modernizing Canada’s invoice ecosystem and positioning the organization for the next phase of its progress. As we search for Tracey’s successor, Kristina and Jude revel in seasoned industry leaders and their experience in leading critical operational facets of our business will help Payments Canada as well as the interim co-CEOs. Kristina and Jude will work hard in combination with the help of our exceptional leadership team. I look forward to running with the Board of Directors on the search procedure to locate our next successor to assist in the next phase of payments innovation in Canada. “
Through Black’s leadership, Payments Canada has worked collaboratively with the payment ecosystem to innovate payment systems and rules to benefit Canadians, and to ensure Canada and Canadian businesses remain globally competitive. Over the duration of Tracey’s leadership, Payments Canada systems have operated with almost 100% availability with demonstrated resiliency and safety. Fundamental to this work, in 2021 Black led the seamless implementation of Lynx, replacing the Large Value Transfer System (LVTS), which served as Canada’s high-value payment system since 1999. In March 2023, Black led the second release of Lynx, which introduced the ISO 20022 financial message standard (MX messages) to enable data-rich payments. More recently, Black played an instrumental role in supporting the expansion of access to Canada’s national payment infrastructure, laying the foundation for continued future innovation in digital payments. Under Black’s leadership, Payments Canada has also made significant strides in the design and preparation for the implementation of the new Real-Time Rail (RTR) payment system in Canada, readying the RTR initiative for its next phase.
“It has been a privilege to lead this organization during my tenure as president and CEO. I am proud of what our Payments Canada team has completed in the ongoing modernization of our country’s payment systems, in partnership with our members and in collaboration with the Government of Canada’s Payments Ecosystem. Together, we have made significant strides in selling inventions that serve Canadian consumers and businesses and help our country’s broader economic interests on the global stage,” Black said. “Kristina and Jude have been incredible partners and, in combination, bring a deep understanding of the organization and the invoice industry as a whole. I am incredibly confident that Payments Canada, our members, partners and workers are in the right hands and fully ready for the next phase of continued payments innovation in Canada.
In her role as interim co-CEO, Kristina Logue will be responsible for the day-to-day tasks of the organization, in addition to her day-to-day jobs as CFO. This includes monetary tracking, planning and research of all of Payments Canada’s activities as well as its human resources, program management, procurement, corporate strategy and business plan purposes. Beyond her monetary expertise, Logue is an accredited organizational leader, mentor, and advocate.
With 30 years of leadership in the money industry, Pinto has effectively led the transformation and innovation of the industry, both locally and internationally. In his role as interim co-CEO, Pinto will continue to play a pivotal role in innovating Canada’s invoices. ecosystem with a focus on safety, resilience, and inclusion, enabling a fair festival in Canada’s thriving economy. Pinto will continue to leverage his expertise and delight in leading large-scale delivery systems to lead the next phase of RTR, in collaboration with members. and the broader ecosystem. As a component of his expanded role, he will assume oversight of Payment Canada’s Operations and Information Technology business unit.
Logue and Pinto will report to the Chairman of the Board of Directors of Payments Canada and will continue to be supported by the entire control team, Donna Kinoshita, Director of Payments; Peter Dodic, chief risk officer; and Shawn Van Raay, chief information officer.
About Payments Canada
Payments Canada is a public purpose organization that owns and operates Canada’s payment systems, Lynx and the Automated Clearing Settlement System (ACSS). Payments Canada is responsible for the physical infrastructure and the associated by-laws, rules, and standards that support these systems. It also has a duty to promote the efficiency, safety, and soundness of Canada’s payment systems while taking into account the interests of end users. In 2023, Payments Canada’s systems cleared and settled over $112 trillion — more than $450 billion every business day. Transactions that pass through these systems include debit card payments, pre-authorized debits, direct deposits, bill payments, wire payments and cheques initiated and received by Canadians and Canadian businesses. Payments Canada is working closely with the payment ecosystem to modernize Canada’s payment systems to ensure Canada and Canadian businesses remain globally competitive.
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SOURCE Payments Canada
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