Chair of Swift steps down after long service

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Joe Baker
Joe Baker
Senior Copywriter
Joe is a Senior Copywriter working on reports, news and analysis. Previously, he worked as a B2B copywriter, journalist and editor covering a broad range of topics, including technology, transport,… Read more
  • Yawar Shah, who is the chair of Swift’s board, has retired after 16 years in the role and as the representative of the US on the board of the financial messaging service.
  • Mark Buitenhek, who is currently the organisation’s deputy chair, will serve until the Swift board finds a new chair to take on its leadership.
  • “I would like to thank Swift Board colleagues from around the world for their continuing dedication and together with Swift’s management team, I am confident the cooperative remains in excellent shape for the years ahead,” Shah said.

Yawar Shah, a senior figure and chair of the financial networking service Swift’s board of directors financial networking service Swift has retired after 16 years.

Shah had also served as the representative of the US on the committee.

Press reports said that his role will be covered by the Deputy Chair, Mark Buitenhek, on a temporary basis until the Swift board finds a new chair to take on its leadership.

Swift, which allows financial institutions such as banks to transfer information, is expected to do this as part of its formal governing procedures in the period to come.

Swift is known for its attempts to standardise various parts of the fast money transfer and wider international payments sector.

It has devised a number of standards for this purpose, and has also taken steps to enhance security.

In a statement, Shah said that he was leaving the organisation in a good position.

“Swift is in great shape with strong financials, growing traffic, industry momentum around its strategy, and exciting innovation ahead,” he said.

He added that the move would coincide with Swift moving into a new “phase of strategic delivery”.

“At the end of a successful year and as we move to the next phase of strategic delivery it is the right time for me to retire from the role of Chair and the Board,” he explained.

“I would like to thank Swift Board colleagues from around the world for their continuing dedication and together with Swift’s management team, I am confident the cooperative remains in excellent shape for the years ahead.”  

Javier Pérez-Tasso, CEO of Swift, said that he was looking forward to continued collaboration with the board.

“I would like to recognise Yawar’s many contributions to the Swift community over the years. I look forward to working together with the Board through the leadership transition as we continue to deliver on our global vision for instant and frictionless transactions with the highest standards of operational excellence,” he said.

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