Maurice Cleaves named new interim Payments Council chief

The UK Payments Council appointed Maurice Cleaves as interim CEO to guide the body as it prepares for a change of direction ahead of the introduction of a new payments regulator.

Cleaves has over 30 years of banking experience, most recently holding senior positions at Barclays as well as previously working at  Deutsche Bank and J.P. Morgan. He will take up the new post in November, taking over from Gerard Lemos, who temporarily became executive chairman after previous CEO Adrian Kamellard quit last month.

The new role will see Cleaves take charge as the once all-powerful Council begins “refocusing” to prepare for the introduction of the utilities-style Payment Systems Regulator (PSR), which will become operational next April.

Lemos, who will revert to his old role of independent chairman, commented: “We are delighted that Maurice has agreed to lead the Payment Council. His experience and knowledge will be critical to help us prepare for the new payments regulator. We need to be ready to help support the regulator in meeting its objectives – whilst building upon our past successes, delivering real and positive change for customers.”

Cleaves added: “This is a fabulous opportunity to help shape the future of the payments industry in the UK and I look forward to putting all my energy, experience and knowledge to good use in the role…I look forward to building on this success to help guide the payments industry through the transition to a new regulatory environment.”

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