Chairman of Payments Council announces departure
20 Oct 2009
Brian Pomeroy, Chairman of the Payments Council today (20th October) has announced his resignation as from 31st October following his appointment as non-executive director of the Financial Services Authority. The Payments Council will now appoint an interim Chairman and will make an announcement shortly.
Paul Smee, Chief Executive of the Payments Council says “Brian’s contribution over the past two and three quarter years has been immense: much has been achieved under his leadership including the launch of the UK’s first ever National Payments Plan and the successful launch of the first new payments system in over twenty years. He clearly leaves an important legacy. We wish him well in his important new appointment.”
The Payments Council will now begin the process of appointing a new independent chairman. Full details will be made available in due course on www.paymentscouncil.org.uk.
ENDS
For further information, contact the Payments Council press team on 020 7711 6316 or press@ukpayments.org.uk
NOTES TO EDITORS
The Payments Council is the organisation that sets strategy for UK payments. It has been established to ensure that UK payment systems and services meet the needs of users, payment service providers and the wider economy.
The Payments Council has three core objectives: to have a strategic vision for payments and lead the future development of co-operative payment services in the UK; to ensure payment systems are open, accountable and transparent; and to ensure the operational efficiency, effectiveness and integrity of payment services in the UK.
The Payments Council is a membership organisation funded by its members, with an independent chairman. It was set up in March 2007 and currently has 27 members; on the Board sit 11 banking representatives and four independent Directors as well as the chairman. The principal UK payment schemes – Bacs, CHAPS and Cheque & Credit Clearing Companies, LINK Scheme as well as the UK Domestic Cheque Guarantee Card Scheme, the Belfast Bankers' Clearing Company Limited and the Currency Clearings – have entered into a contract with the Payments Council which sets out their respective rights and duties towards each other. Under the contract, schemes are required to report regularly to the Payments Council Board: the Board is able to make decisions that are binding on scheme members in order to implement its strategy.