MasterCard Inc (NYSE:MA
) announced further changes to its senior leadership team in the region, effective immediately.
Matthew Driver has been appointed to the role of Group Executive, Global Products and Solutions for Asia Pacific. In this role, Matthew will lead the development of innovative products and services that benefit consumers, merchants, business partners and governments across Asia Pacific for MasterCard. Matthew will have responsibility for Core Products, Emerging Payments, Processing Services, MasterCard Advisors, as well as Marketing and Communications in Asia Pacific. Matthew will partner with MasterCard’s global and regional management teams as well as the Asia Pacific division and sub-region presidents to deliver leading edge electronic payment solutions and services that will further advance the company’s vision of achieving a World Beyond Cash and drive inclusive growth across all Asia Pacific markets.
Matthew joined MasterCard in 2002 and has over 26 years of experience in banking, payments and business services having worked extensively across Asia, Europe, the Middle East and the Americas. Most recently, Matthew was the President of Southeast Asia, responsible for managing all aspects of the MasterCard business in the division.
Matthew takes over from T.V. Seshadri who has been appointed to the newly created role of Head of Business Process Simplification, Asia Pacific. In this role, Seshadri will be focused on integrating and coordinating efforts across Asia Pacific to ensure more streamlined collaboration. He will drive both pan Asian and national infrastructure projects and will act as the project lead for significant strategic reviews, ensuring collaboration across the network through facilitation and project management. The creation of Seshadri’s new role reflects the growing strategic importance of the Asia Pacific region to MasterCard.
Seshadri has held several management roles within MasterCard over the last 18 years in Singapore and India. As Global Products and Solutions lead for Asia Pacific, he has helped to maximize the region’s revenue growth; ensure maximum penetration of market segments; and identify strategic business-building opportunities in products and solutions for customers in the region. (Original Source)
Shares of MasterCard opened today at $94.49 and are currently trading down at $94.18. MA has a 1-year high of $96.31 and a 1-year low of $69.64. The stock’s 50-day moving average is $93.56 and its 200-day moving average is $88.97.
On the ratings front, MasterCard has been the subject of a number of recent research reports. In a report issued on June 29, Suntrust Robinson Humphrey analyst Andrew Jeffrey reiterated a Buy rating on MA, with a price target of $120, which represents a potential upside of 27.0% from where the stock is currently trading. Separately, on June 1, Deutsche Bank’s Bryan Keane reiterated a Buy rating on the stock and has a price target of $100.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Andrew Jeffrey and Bryan Keane have a total average return of 4.2% and 13.4% respectively. Jeffrey has a success rate of 61.1% and is ranked #1286 out of 3688 analysts, while Keane has a success rate of 78.7% and is ranked #323.
The street is mostly Bullish on MA stock. Out of 7 analysts who cover the stock, 6 suggest a Buy rating and one recommend to Hold the stock. The 12-month average price target assigned to the stock is $98.67, which represents a slight upside potential from current levels.