Banking News

Goldman Sachs Transaction Banking IT Lead Moves to Mastercard

(1 April 2022 - Global) Mastercard has appointed Goldman Sachs' head of digital for transaction banking Chad Wallace as executive vice president for B2B Solutions.

At Mastercard, Wallace will oversee the company’s commercial product offering, including its corporate travel and expense (T&E) management products, purchasing cards, virtual cards, B2B payments, and fleet card products, with a focus on enabling the digital transformation of corporate payments across accounts payable, procurement and treasury.

“Chad is joining Mastercard at an exciting time where B2B and commercial solutions are essential in enabling the shift to a digital economy for corporates,” says Craig Vosburg, Mastercard’s chief product officer. “His digital products expertise, proven track record and high energy will support our continued focus to drive innovation in the B2B space.”

At Goldman Sachs, Wallace led the digital product and design organisation responsible for building the cash management offering inclusive of liquidity and payment solutions to support the launch of the Wall Street bank's entery into the global transaction banking space.

Prior to this, he was the head of digital experiences for the Commercial Bank at Capital One, where he led a team responsible for migrating the treasury management digital experience to the cloud.