Swift appoints new chief executive

Financial messaging organisation Swift has appointed Lázaro Campos as its new chief executive to replace Leonard Schrank, who steps down after 15 years at the helm.

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Financial messaging organisation Swift has appointed Lázaro Campos as its new chief executive to replace Leonard Schrank, who steps down after 15 years at the helm.

Swift, an industry owned cooperative, provides secure standardised financial messaging services to more than 8,000 finance institutions worldwide.

Campos is currently a member of the organisation’s executive and has been head of its banking industry division since 2003. He has more than 20 years’ experience in international banking and financial services and has held a string of posts since joining Swift in 1987, including head of marketing.

He has also overseen market infrastructure projects and worked in Swift’s product management and education and standards divisions. Before joining Swift, Campos worked in the international division of Andorra-based commercial finance house Banc Agricol.

Campos will take up his new post on 23 April when Schrank leaves after a two-month handover period.

Yawar Shah, chair of the Swift board, said: “Lázaro’s appointment as the next CEO of Swift is a clear indication of the board's view on the future direction of Swift. His 20 years of service at Swift and market expertise will ensure continuity as Swift implements its 2010 strategy and keeps its focus on its customers and its cooperative franchise.”

Schrank, Swift’s longest serving chief executive, is credited with overseeing a five-fold increase in message traffic, an 80% reduction in prices and the introduction of the new IP-based platform, SwiftNet.

In October, Swift and SAP announced plans for new software to connect SAP enterprise resource planning systems directly to SwiftNet.

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