Ft. Lauderdale, FL – February 19, 2015 –
WaveCrest Group Limited, a global digital payments provider, today announced the appointment of payments industry veteran John Racine as Executive Chairman.
B.D. Goel, the company’s founder who led the company as Chairman and CEO since 2008, has stepped down. He is the architect of the WaveCrest platform strategy that has delivered a wide range of award-winning solutions known for payments innovation.
“B.D. brought the same vision and tireless drive to WaveCrest that was exemplified in his career in creating category leading Internet platforms for world-class companies,” said Paul Marshall, Managing Director of Vesuvius Ventures, representative of the largest shareholder in WaveCrest. “Ever since his family relocated to Silicon Valley last year, B.D. has been dividing his time between the company’s businesses in the U.S., Europe and India. His decision was the right one for B.D. and his family.”
Racine brings two decades of experience as an operator and adviser to payments and financial services companies. In addition to taking on duties as Executive Chairman, he is also an advisor and operating partner focused on payments and financial technology (fintech) at the Chicago-based private equity group, Skyline Global Partners. Previously, he was a partner or C-level executive at companies including SNL Financial, Altamont Partners and Certification Partners.
“As an advisor to the company since 2013 and a successful operator to many payments and fintech companies, John brings deep relationships and operational know-how to WaveCrest,” said Marshall. “With the full-scale operation of our platform, WaveCrest is poised for high growth and success in the expanding corporate and government disbursement business and we are extremely pleased to have John join us at this critical juncture. “
Wave Crest provides award-winning digital payment solutions to corporations and governments worldwide. Programs include business-to-business payouts, employee, student and taxpayer disbursements, mobile wallets, prepaid cards, lottery payments, pre-defined and custom offerings. WaveCrest Holdings Limited in Europe is a regulated e-money issuer and a principal member of MasterCard and Visa EU. WaveCrest Payment Services of the Americas, Inc. is a FinCEN-registered prepaid access provider, and an issuer of Discover Network prepaid cards. Visit us at http://www.WaveCrest.gi.