Cambridge Global Payments Appoints Gary McDonald as CEO and Announces New Leadership Team

TORONTO, ONTARIO--(Marketwired - Oct. 8, 2015) - Cambridge Global Payments ("Cambridge"), a leading provider of integrated cross-border payments services and risk management solutions, is pleased to announce the following, effective immediately:

• Cambridge's Co-Founders, Jacques Feldman and Bernard Heitner will serve as Co-Chairmen of the Board
  
  
• Cambridge's Board has proudly promoted Gary McDonald to Chief Executive Officer, Mark Frey to Chief Operating Officer, Anil Sawrup to Chief Commercial Officer, Corinne MacMillan to Chief Technology Officer, and Jason Gonsalves continues as Chief Financial Officer
  
  
• Company enters next era of corporate growth with emphasis on technology to execute integrated payment initiatives with highly qualified leadership team and employees; well-positioned with a full breadth of product solutions to minimize risk exposure for businesses in today's volatile market
  
  

Cambridge Global Payments' Board of Directors has appointed Gary McDonald as Chief Executive Officer. McDonald joined the Company's senior management team in 2010 as Managing Director and has played an increasingly important role in driving the firm's growth strategy through corporate development, acquisitions, and strategic partnerships. He previously served as an executive with a Canadian bank and is the former CEO of Thomas Cook Financial Services.

"As we place our focus on longer-term strategic opportunities, we are confident in the new executive leadership we have put in place, with Gary McDonald leading the way. Having worked closely with Gary for many years, he is a proven leader in transforming and spearheading corporate growth strategies while still maintaining a clear vision for the Company's future amidst changing technology landscapes - precisely what is needed at this time," said Bernard Heitner Co-Chair and Co-Founder of Cambridge Global Payments. "This movement is integral to the Company's next stage of business development and we fully endorse the newly appointed leadership team to facilitate this growth for years to come."

"While this has been evolving for some time, we are delighted to be passing the torch to a team of incredibly talented, proven, industry experts. The new team has an impressive track record with the Company in growing the business and building strong teams over several years," said Jacques Feldman, Co-Chair and Co-Founder of Cambridge Global Payments. "Bernie and I have built the Company for over 20 years and we are pleased that the day-to-day operations are in good hands, allowing us more time to devote to driving strategic business growth."

New appointments to the leadership team include: Mark Frey as Chief Operating Officer, Anil Sawrup as Chief Commercial Officer, Corinne MacMillan as Chief Technology Officer, and Jason Gonsalves will continue as Chief Financial Officer. Focusing on accelerating and executing on the Company's growth strategies, the leadership team is composed of executive talent who have been instrumental to the organization over the past three to four years.

"Cambridge is well-positioned to offer highly integrated payments services with our customized solutions during this time of technological adoption," said Gary McDonald, Chief Executive Officer of Cambridge Global Payments. "We have assembled the best talent in our newly formed senior leadership team as we focus on technology to execute integrated payment initiatives. Each of the new leaders has unsurpassed industry knowledge, expertise, and extensive networks. I look forward to continuing to work with the entire Cambridge team as we embark on this exciting new phase of the Company's journey."

About Cambridge Global Payments

Cambridge Global Payments is a leading provider of integrated cross-border payment services and risk management solutions. As a trusted partner for over 20 years, Cambridge delivers innovative solutions designed to mitigate foreign exchange exposure and address unique business needs. Our award-winning capabilities and industry-leading technologies simplify the way businesses connect with the global marketplace. As one of the largest bank-independent providers globally, we are flexible and responsive, with offices across North America, Europe, and Australia. Learn more at cambridgefx.com and follow us on Twitter and LinkedIn.