What happened: Mastercard appoints new CEO to lead Vancouver subsidiary
Why it matters: NuData Security is keeping the executive transition close to home, with the promotion of its co-founder
Mastercard Inc. (NYSE: MA) is topping up the executive ranks of a Vancouver-based subsidiary with the appointment of a new CEO.
Christopher Bailey has been handed the reins to NuData Security, the tech firm specializing in fraud management and security he co-founded in 2007.
In addition to assuming the CEO role at NuData Security, the parent company also announced June 26 it was promoting Bailey to vice-president of EMV (Europay, MasterCard, Visa)/digital devices at Mastercard.
Bailey has been serving as chief technology office and senior vice-president of NuData Security prior to the CEO appointment.
He takes over from retiring co-founder Michel Giasson.
Giasson previously led the company for 12 years, shepherding it through Mastercard’s acquisition of NuData Security in 2017.
NuData Security isn’t the first company Bailey has co-founded.
He previously launched gaming company H20, which was later acquired by Network Associates, Inc.
Bailey’s new job sees him supervising a firm that develops products to identify potential fraudulent activity based on users’ online interactions.
NuData Security analyzes about 400 billion interactions annually.