Tuesday, March 5, 2024

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Marqeta SVP and managing director Jeff Parker steps down

  • Resignation Announcement: Jeff Parker, SVP and managing director, international at Marqeta, is stepping down from his position at the California-headquartered card issuing firm.
  • Announcement via LinkedIn: Parker shared the news on LinkedIn, expressing that his time at Marqeta is concluding, despite having enjoyed every minute of it.
  • Professional Background: Parker joined Marqeta in September 2022, tasked with expanding the company’s international go-to-market and operational functions, focusing on Europe and APAC.
  • Previous Experience: Before Marqeta, Parker had a nearly six-year tenure at WorldFirst, where he held various leadership roles, culminating in director and CEO positions after the company’s acquisition by China’s Ant Group in February 2019.
  • Marqeta’s Business: Marqeta, founded in 2010, offers a B2B open API payments platform with features such as issuing, processing, digital banking, and risk control functions.
  • International Expansion: Marqeta established its European presence in London in 2018 and expanded to Melbourne, Australia in April 2021, followed by launches in Singapore, the Philippines, and Thailand in the previous year.
  • Financial Challenges: Marqeta faced difficulties, leading to the closure of its Australian operations in May, following a quarterly net loss of $69 million for Q1 2023.
  • Acknowledgment in Departure Post: Parker appreciates Marqeta’s team for their support and mentions the warm welcome he received when joining the industry.
  • Future Plans: While Parker does not specify the reasons for leaving or his next steps, he promises to update everyone shortly on his future intentions.

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