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I am former editor of The Banker, a Financial Times publication. I joined the publication in August 2015 as transaction banking and technology editor, was promoted to deputy editor in September 2016 and then to managing editor in April 2019. The crowning glory was my appointment as editor in March 2021, the first female editor in the publication's history. Previously I was features editor at Profit&Loss, editorial director of Treasury Today and editor of gtnews.com. I also worked on Banking Technology, Computer Weekly and IBM Computer Today. I have a BSc from the University of Victoria, Canada.

Friday 24 July 2009

Italian merger creates European processing giant

News

SEPA pressures are coming to bear on European payments and card firms

SIA-SSB, created by bringing back together Società Interbancaria per l’Automazione-Cedborsa and Società per iServizi Bancari, looks to become one of Europe’s main players in the card processing, payments system and capital markets space. The firm expects to manage 7.3 billion transactions with debit and credit cards and payment and collection operations, 8 thousand billion bytes carried on the network and 73 million trading transactions on financial markets this year.

The new chief executive, Renzo Vanetti (right), said that the merger was driven by the Single Euro Payments Area and the need for higher volumes and a bigger operation. “With this merger we are able to have a full value chain offer — from the capital markets solution to payments solution, plus risk evaluation services and infrastructure services, like outsourcing, facility management and networking services. This gives us an important role in the SEPA evolution,” said Vanetti. “Our main objective is to be able to transform SEPA into SEBA —— Single European Business Area. If we are able to make this transformation, then we will be the winners in the market.”

The new group is composed of the parent company and the subsidiaries Kedrios, Perago, RA Computer, SiNSYS and TSP, which will maintain autonomous corporate structures. Hungarian firm GBC will be added to the group pending authorisation by the local market antitrust authorities.

Carlo Tresoldi, previously central director of the Bank of Italy Treasury and Payment Systems area, is the company chairman. Vanetti was previously SIA Group chief executive and the managing director is Gian Bruno Mazzi, previously SSB chief executive. Mazzi will guide the three business units of cards, payment systems and capital markets.

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