Google Wallet PIN Cracked

Fix for vulnerability could require banks to take over some of security responsibility.
When researchers late last year revealed that the Google Wallet app stored sensitive user data in plain text locally on the device, they also gave the app credit for its PIN protection. But now that last line of defense has been exposed by another researcher, who this week released a proof-of-concept for cracking the Google Wallet PIN.

Joshua Rubin, senior engineer with Zvelo, yesterday posted his PoC that demonstrates how he cracked Google Wallet's four-digit PIN used to authorize and process mobile-phone payments. The PIN is considered the extra layer of security that a plain, old credit card wouldn't have. But Rubin poked a big hole in that strategy: "With this attack, the PIN can be revealed without even a single invalid attempt. This completely negates all of the security of this mobile phone payment system," Rubin said in a blog post today.

In December, researchers at viaForensics said they had found that the app locally stores some payment card data in plain text, such as the cardholder's name, transaction dates, email address, and account balance.

Google Wallet PIN Cracked

Fix for vulnerability could require banks to take over some of security responsibility.
When researchers late last year revealed that the Google Wallet app stored sensitive user data in plain text locally on the device, they also gave the app credit for its PIN protection. But now that last line of defense has been exposed by another researcher, who this week released a proof-of-concept for cracking the Google Wallet PIN.
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Joshua Rubin, senior engineer with Zvelo, yesterday posted his PoC that demonstrates how he cracked Google Wallet's four-digit PIN used to authorize and process mobile-phone payments. The PIN is considered the extra layer of security that a plain, old credit card wouldn't have. But Rubin poked a big hole in that strategy: "With this attack, the PIN can be revealed without even a single invalid attempt. This completely negates all of the security of this mobile phone payment system," Rubin said in a blog post today.

In December, researchers at viaForensics said they had found that the app locally stores some payment card data in plain text, such as the cardholder's name, transaction dates, email address, and account balance.

Hasan Named Internet Chief at U.S. Bank

Meheriar Hasan will oversee U.S. Bank’s efforts on the Web channel in this newly-created position
U.S. Bank (Minneapolis; $266 billion in assets) has named Meheriar Hasan to the newly-created position of Internet channel manager. Hasan will manage the Web channel at the enterprise level and be responsible for developing strategies to acquire new customers, build relationships with existing customers and enhance self-service capabilities for online customers. He will be based in San Francisco.

Hasan was most recently with Wells Fargo, where he spent eight years leading the bank's direct-to-consumer channel for the consumer credit group, and serviced as head of online sales and marketing for the Internet service group. He is a 23-year bank technology veteran who has held positions at various financial institutions and financial solutions providers. 

Chantal Simons Named CRO at People’s United

The Merrill Lynch veteran will oversee the growing bank’s risk management practice.Chantal Simons was named EVP and chief risk officer at People's United Bank in Bridgeport, Conn. Simon will be a member of the bank's Management Committee and report directly to Philip R. Sherringham, president and CEO.

Simon was recently CRO and head of risk management for Merrill Lynch's U.S. regulated bank businesses. In this role she was responsible for credit risk management, market risk management and credit review and also had significant involvement with the banks' regulators.

"With the growth of the bank and plans for further substantial expansion through acquisition, it has become apparent that we need a single point of responsibility for enterprise risk management. I am delighted that we have found a professional with as solid experience as Chantal," said Sherringham in a statement. 

Hasan Named Internet Chief at U.S. Bank

Meheriar Hasan will oversee U.S. Bank’s efforts on the Web channel in this newly-created position
U.S. Bank (Minneapolis; $266 billion in assets) has named Meheriar Hasan to the newly-created position of Internet channel manager. Hasan will manage the Web channel at the enterprise level and be responsible for developing strategies to acquire new customers, build relationships with existing customers and enhance self-service capabilities for online customers. He will be based in San Francisco.

Hasan was most recently with Wells Fargo, where he spent eight years leading the bank's direct-to-consumer channel for the consumer credit group, and serviced as head of online sales and marketing for the Internet service group. He is a 23-year bank technology veteran who has held positions at various financial institutions and financial solutions providers. 

Chantal Simons Named CRO at People’s United

The Merrill Lynch veteran will oversee the growing bank’s risk management practice.Chantal Simons was named EVP and chief risk officer at People's United Bank in Bridgeport, Conn. Simon will be a member of the bank's Management Committee and report directly to Philip R. Sherringham, president and CEO.

Simon was recently CRO and head of risk management for Merrill Lynch's U.S. regulated bank businesses. In this role she was responsible for credit risk management, market risk management and credit review and also had significant involvement with the banks' regulators.

"With the growth of the bank and plans for further substantial expansion through acquisition, it has become apparent that we need a single point of responsibility for enterprise risk management. I am delighted that we have found a professional with as solid experience as Chantal," said Sherringham in a statement. 

Laurence Christ Becomes Advantage Bank’s New CCO

Former Merrill Lynch Commercial Finance Corporation exec assumes chief credit officer role.
Laurence Christ was appointed SVP and chief credit officer (CCO) with Cambridge, Ohio-based Camco Financial, parent of Advantage Bank.

As CCO, Christ will be responsible for providing direction for loan policy and procedures to ensure the overall quality of the bank's portfolio. Most recently, Christ was with Merrill Lynch Commercial Finance Corporation in Chicago as director of investment real estate lending. Prior to that, Christ was VP and CCO for Central Ohio for Fifth Third Bank.

"With Larry's extensive experience in the Ohio market and track record of implementing successful credit programs, he is an excellent fit with our senior management team," said James Huston, chairman, president & CEO of the bank, in a statement. "His proactive style will strongly contribute to Advantage Bank's goals of market leadership, profitability and exceptional credit quality." 

Francesco Vanni d’Archirafi Named Head of Citi’s GTS Business

Citi’s Global Transaction Services unit is appointing new leadership as Paul Galant moves on to run the bank’s credit cards business.
New York-based Citi has appointed Francesco Vanni d'Archirafi head of Global Transaction Services (GTS). He will report to institutional clients group CEO John Havens. Citi also announced that Paul Simpson will assume responsibility for the Treasury and Trade Solutions business, reporting to Vanni d'Archirafi.

Vanni d'Archirafi succeeds Paul Galant, who has taken a new assignment running Citi's North American and International Credit Cards businesses.

Prior to his current appointment, Vanni d'Archirafi was Global Head of Treasury and Trade Solutions and before that, Head of Global Transaction Services for Europe, Middle East and Africa, where he had responsibility for cash management, trade finance, trade services and the securities and fund services businesses across the region.

Before taking on his new duties in the treasury and trade solutions unit, Simpson led multiple global businesses within GTS including: wholesale card services (commercial card, prepaid/stored value), public sector business solutions, and healthcare solutions. 

Terry Akins Named Credit Chief at Iberiabank

Akins, a former Wachovia executive, becomes the bank’s chief credit officer and senior EVP.
Terry Akins was named senior EVP and chief credit officer of Lafayette, La.-based Iberiabank Corp., the holding company forIberiabank and Pulaski Bank & Trust.

Akins replaces Anthony Restel, who will take on the full time role of CFO at the company.

Daryl Byrd, president and CEO of the company commented in a statement, "Terry has played a crucial role in strategic initiatives and project management as a consultant for our organization during the past five years. We are thrilled she is joining our company in a more permanent role as she brings over 20 years of banking experience and tremendous credit depth to our team. We are looking forward to her contributions."

Akins previously served as a SVP, group executive, for Wachovia Bank. While there, she served in line and credit management, including leading International risk management and foreign exchange and derivatives in the capital markets group. 

Laurence Christ Becomes Advantage Bank’s New CCO

Former Merrill Lynch Commercial Finance Corporation exec assumes chief credit officer role.
Laurence Christ was appointed SVP and chief credit officer (CCO) with Cambridge, Ohio-based Camco Financial, parent of Advantage Bank.

As CCO, Christ will be responsible for providing direction for loan policy and procedures to ensure the overall quality of the bank's portfolio. Most recently, Christ was with Merrill Lynch Commercial Finance Corporation in Chicago as director of investment real estate lending. Prior to that, Christ was VP and CCO for Central Ohio for Fifth Third Bank.

"With Larry's extensive experience in the Ohio market and track record of implementing successful credit programs, he is an excellent fit with our senior management team," said James Huston, chairman, president & CEO of the bank, in a statement. "His proactive style will strongly contribute to Advantage Bank's goals of market leadership, profitability and exceptional credit quality." 

Francesco Vanni d’Archirafi Named Head of Citi’s GTS Business

Citi’s Global Transaction Services unit is appointing new leadership as Paul Galant moves on to run the bank’s credit cards business.
New York-based Citi has appointed Francesco Vanni d'Archirafi head of Global Transaction Services (GTS). He will report to institutional clients group CEO John Havens. Citi also announced that Paul Simpson will assume responsibility for the Treasury and Trade Solutions business, reporting to Vanni d'Archirafi.

Vanni d'Archirafi succeeds Paul Galant, who has taken a new assignment running Citi's North American and International Credit Cards businesses.

Prior to his current appointment, Vanni d'Archirafi was Global Head of Treasury and Trade Solutions and before that, Head of Global Transaction Services for Europe, Middle East and Africa, where he had responsibility for cash management, trade finance, trade services and the securities and fund services businesses across the region.

Before taking on his new duties in the treasury and trade solutions unit, Simpson led multiple global businesses within GTS including: wholesale card services (commercial card, prepaid/stored value), public sector business solutions, and healthcare solutions. 

Terry Akins Named Credit Chief at Iberiabank

Akins, a former Wachovia executive, becomes the bank’s chief credit officer and senior EVP.
Terry Akins was named senior EVP and chief credit officer of Lafayette, La.-based Iberiabank Corp., the holding company forIberiabank and Pulaski Bank & Trust.

Akins replaces Anthony Restel, who will take on the full time role of CFO at the company.

Daryl Byrd, president and CEO of the company commented in a statement, "Terry has played a crucial role in strategic initiatives and project management as a consultant for our organization during the past five years. We are thrilled she is joining our company in a more permanent role as she brings over 20 years of banking experience and tremendous credit depth to our team. We are looking forward to her contributions."

Akins previously served as a SVP, group executive, for Wachovia Bank. While there, she served in line and credit management, including leading International risk management and foreign exchange and derivatives in the capital markets group. 

The Bank of New York Mellon’s Howard Bascom Named BAFT Chairman

The Bankers’ Association for Finance and Trade made several board appointments at its annual meeting.
The Bank of New York Mellon's Howard Bascom was appointed chairman of The Bankers' Association for Finance and Trade (BAFT; Washington, D.C.), the worldwide financial institution trade association. Bascom serves as managing director of The Bank of New York Mellon and head of global trade finance and credit services, responsible for all aspects of the bank's trade finance business.

"Representing BAFT under any circumstances would be an honor, but it's particularly gratifying given the importance of trade finance services in the current economic climate," said Bascom in a statement. "The trade finance crisis has underscored the importance of BAFT's ability as a leadership organization to address the key business areas in which we're involved on behalf of our global membership."

Among other appointments at the association's annual meeting were Rita Gonzalez, managing director and head of global transaction banking at HSBC, as vice chair, and the re-election of James Peterson to the secretary-treasurer position. Peterson is managing director for The Northern Trust International Banking Corporation. 

John Brennan Joins Western Union’s Banking Business

Brennan will be charged with helping to grow Western Union’s banking business in the U.S.
John Brennan has been named VP of business development, the Americas at Western Union (Englewood, Colo.). Brennan's focus will be developing the company's banking channel business in the U.S.

Brennan joins Western Union from Dun & Bradstreet, where he served as global solutions leader, managing marketing, risk and supply management solutions in support of Citigroup, Merrill Lynch and Prudential. Prior to that, he was senior vice president for First Data's Debit Services where he managed relationships with some of the nation's largest banks.

"With John's wealth of banking experience, Western Union will continue to aggressively build upon its North America banking strategy to better serve new consumer segments and build relationship with key banks to offer consumers more financial services options when it comes to sending money to family and friends in the U.S. or around the globe," said Stewart Stockdale, EVP and president, The Americas, in a statement. 

The Bank of New York Mellon’s Howard Bascom Named BAFT Chairman

The Bankers’ Association for Finance and Trade made several board appointments at its annual meeting.
The Bank of New York Mellon's Howard Bascom was appointed chairman of The Bankers' Association for Finance and Trade (BAFT; Washington, D.C.), the worldwide financial institution trade association. Bascom serves as managing director of The Bank of New York Mellon and head of global trade finance and credit services, responsible for all aspects of the bank's trade finance business.

"Representing BAFT under any circumstances would be an honor, but it's particularly gratifying given the importance of trade finance services in the current economic climate," said Bascom in a statement. "The trade finance crisis has underscored the importance of BAFT's ability as a leadership organization to address the key business areas in which we're involved on behalf of our global membership."

Among other appointments at the association's annual meeting were Rita Gonzalez, managing director and head of global transaction banking at HSBC, as vice chair, and the re-election of James Peterson to the secretary-treasurer position. Peterson is managing director for The Northern Trust International Banking Corporation. 

John Brennan Joins Western Union’s Banking Business

Brennan will be charged with helping to grow Western Union’s banking business in the U.S.
John Brennan has been named VP of business development, the Americas at Western Union (Englewood, Colo.). Brennan's focus will be developing the company's banking channel business in the U.S.

Brennan joins Western Union from Dun & Bradstreet, where he served as global solutions leader, managing marketing, risk and supply management solutions in support of Citigroup, Merrill Lynch and Prudential. Prior to that, he was senior vice president for First Data's Debit Services where he managed relationships with some of the nation's largest banks.

"With John's wealth of banking experience, Western Union will continue to aggressively build upon its North America banking strategy to better serve new consumer segments and build relationship with key banks to offer consumers more financial services options when it comes to sending money to family and friends in the U.S. or around the globe," said Stewart Stockdale, EVP and president, The Americas, in a statement. 

Bank of America Names Gregory Curl CRO, Adds to Board

In addition to appointing Curl head of risk, BofA has named four new members to its board of directors.
There are a number of new faces at Bank of America today. Last Friday, the bank elected four new board members and appointed a new chief risk officer.

Gregory Curl will take the reins as CRO, succeeding Amy Woods Brinkley effective June 30. He will be responsible for working with the company's lines of business to identify and navigate credit, market and operational risks.

FFIEC Solutions LabThe new FFIEC guidelines are set to take effect on Jan. 1, 2012. Gather intelligence on technology solutions designed to help you comply with the new requirements.

Curl was most recently a global corporate strategic development and planning executive at the bank. He will continue to be a member of the management committee in his new role. CEO Ken Lewis says Curl will bring a valuable perspective to risk management based on his years of analyzing companies and markets for corporate development.

Brinkley will remain with the company until her retirement later this summer. Thereafter, she will voluntarily serve on Bank of America's charitable board continuing her long-standing commitment to the communities served by the bank.

The bank's board of directors, meanwhile, welcomes Susan Bies, a former member of the Board of Governors of the Federal Reserve System and former CFO of First Tennessee National Corporation; William Boardman, retired executive of Bank One Corporation and Visa International; D. Paul Jones, former chairman and CEO of Compass Bancshares; and Donald Powell, former chairman of the FDIC and former president and CEO of The First National Bank of Amarillo. 

Bank of America Names Gregory Curl CRO, Adds to Board

In addition to appointing Curl head of risk, BofA has named four new members to its board of directors.
There are a number of new faces at Bank of America today. Last Friday, the bank elected four new board members and appointed a new chief risk officer.

Gregory Curl will take the reins as CRO, succeeding Amy Woods Brinkley effective June 30. He will be responsible for working with the company's lines of business to identify and navigate credit, market and operational risks.

FFIEC Solutions LabThe new FFIEC guidelines are set to take effect on Jan. 1, 2012. Gather intelligence on technology solutions designed to help you comply with the new requirements.

Curl was most recently a global corporate strategic development and planning executive at the bank. He will continue to be a member of the management committee in his new role. CEO Ken Lewis says Curl will bring a valuable perspective to risk management based on his years of analyzing companies and markets for corporate development.

Brinkley will remain with the company until her retirement later this summer. Thereafter, she will voluntarily serve on Bank of America's charitable board continuing her long-standing commitment to the communities served by the bank.

The bank's board of directors, meanwhile, welcomes Susan Bies, a former member of the Board of Governors of the Federal Reserve System and former CFO of First Tennessee National Corporation; William Boardman, retired executive of Bank One Corporation and Visa International; D. Paul Jones, former chairman and CEO of Compass Bancshares; and Donald Powell, former chairman of the FDIC and former president and CEO of The First National Bank of Amarillo. 

MasterCard Names Ajay Banga COO

Citi’s Banga will join the card giant later this summer and will be charged with growing customer relationships.
MasterCard Incorporated (Purchase, N.Y.) appointed Ajay Bangapresident and COO, reporting to Robert Selander, currently president and CEO. Selander will continue to serve as CEO after Banga joins MasterCard on Aug. 31.

Banga is currently Citigroup's CEO of Citi Asia Pacific, responsible for all of Citi's business lines in the region, including credit cards and consumer banking, institutional banking, wealth management and alternative investments. He is also a member of the company's senior leadership and executive committees.

When Banga joins MasterCard, he will be responsible for key business operations, including global customer relationships in international and U.S. markets, products, services, marketing, technology and operations. The company's finance, human resources, and law and franchise integrity functions will continue to report to Selander. 

Maryann Goebel Named CIO at Fiserv

Goebel has served in senior tech roles at some of the world’s largest companies.
Maryann Goebel has joined Fiserv (Brookfield, Wis.) as EVP and CIO, reporting to the CEO.

Goebel brings more than 30 years of technology experience to Fiserv, including 15 years as a senior technology officer at a variety of companies, such as General Motors, PepsiCo and Bell Atlantic. Since 2006, she has served as EVP and CIO for DHL Express in Bonn, Germany, where she managed an organization of 1,500 employees with responsibility for service delivery in more than 200 countries. According to Fiserv, Goebel has managed on several occasions very large, complex technology organizations where technology was a key enabler in defining the markets in which those companies conducted business.

"Maryann's proven success leading a variety of complex technology environments is a great addition to the aggregate strength of the Fiserv management team," said Jeffery Yabuki, president and CEO of Fiserv. "Her vast experience as the technology architect for a number of leading companies provides us with a great balance of technology rigor, strategic focus and client focused innovation. We are very pleased to have Maryann on the team."