news 1 week ago

Travelex Strengthens North American Management Team, Hires Subodh Karnad as Chief Financial Officer

The Associated Press

NEW YORK--(BUSINESS WIRE)--Apr 15, 2019--Travelex, a leading currency exchange and cross-border payments services firm, announced the hiring of Subodh Karnad to the North American management team. Subodh joins Travelex as Chief Financial Officer. In this capacity, Subodh will lead Finance for all of Travelex’s North America operations covering retail, B2B, payments & remittances with responsibility for financial management, commercial finance, controls and reporting.

Subodh comes to Travelex with 15+ years of Finance and Leadership roles across category leading multi-national companies like Nokia, PayPal, VISA and Wells Fargo. Most recently he was the CFO for Nokia’s emerging consumer product business unit where he led financial due diligence and M&A efforts to enable Nokia enter the digital health market via the cross border acquisition of Withings. Subsequently, he helped engineer Nokia’s re-entry into the mobile phone space via its partnership with HMD Global. Prior to Nokia, Subodh led Finance for PayPal’s Global Product and Technology function where he was responsible for managing a $1.4 Billion technology and capital investment budget across an organization of 4500 employees. Prior to PayPal, Subodh was Vice President of Finance at VISA, this after spending several years in his early career across various finance roles at PayPal and Wells Fargo.

“We are all very enthusiastic to have Subodh and his extensive experience to the Travelex North American team” says James Hewitt, CEO North America at Travelex. Subodh has deep expertise in finance and his background from fin-tech suits Travelex very well now when we are continuing to innovate and broaden the reach of our products and services in North America”

“I am thrilled to be joining James and the Travelex leadership team at this stage of the company’s evolution” says Subodh “Travelex is a company with a rich and established history of success as the world’s leading currency exchange provider with an expansive retail and B2B footprint. Equally exciting to me is to be a part of its rapid progression into a cutting edge Fintech and Digital payments products company”

Subodh will be joining Travelex North America’s New York office and will be based in New York Office.

About Travelex

Headquartered in London, Travelex has a rich heritage in foreign currency, pioneering the travelers’ cheques of the past and the digital payments of the future. With a presence in over 27 countries, and over 1,200 stores at both on-airport and off-airport locations around the world, Travelex has distilled its expertise and experience into a platform that reinvents physical and digital cross-border money movement globally to ensure its clients remain one step ahead of the competition. The platform provides financial institutions with a trusted, efficient, and accurate international money payments service, plus secure and reliable banknote delivery of both major and exotic currencies.

A category leading independent foreign exchange specialist, the business covers the entire value chain of the retail foreign exchange industry. Travelex Group is also active in the remittances and payments space enabling physical and digital cross-border money movement for consumers and financial institutions.

Travelex is part of the Finablr network of companies. These category-leading financial services brands meet the needs of consumers through deep regulatory know-how, relentless focus on technological innovation and a global network of retail stores, business partners and digital channels.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190415005520/en/

CONTACT: Caroline Andoscia

caroline@andoscia.com

212.475.2122 x701

Kelly Rada

kelly@andoscia.com

212.475.2122 x702

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: TRAVEL OTHER TRAVEL PROFESSIONAL SERVICES BANKING

SOURCE: Travelex

Copyright Business Wire 2019.

PUB: 04/15/2019 10:00 AM/DISC: 04/15/2019 10:00 AM

http://www.businesswire.com/news/home/20190415005520/en