New CEO for Crown Agents Bank
UK-based transaction bank specializing in digital payments into emerging markets, Crown Agents Bank (www.crownagentsbank.com) has appointed Bhairav Trivedi as its new CEO. He replaces Albert Maasland, who has successfully spearheaded the bank’s activities since 2017, and will oversee the transition to Bhairav before retiring.
Bhairav brings over 30 years’ experience in financial services, with a core focus on digital payments, cross-border remittances and fintech development, having held several senior roles, including Group CEO of Network International Payment Solutions, Chief Operating Officer of Sigue Global Services Ltd., and Global Head of Remittance Services at Citi’s Global Transaction Services.
“I am delighted to be joining Crown Agents Bank at such an important moment in its development,” says Bhairav. “Albert Maasland has done a fantastic job to lead the bank towards its stated objective of becoming a leading provider of digitally-enabled FX and payments for emerging and frontier markets. Our goal moving forward, as an institution, is to continue to expand the business in the markets we serve while providing our customers with fully compliant, state of the art products to meet their needs. I am honoured to now play my part in this journey.”
Originally established in 1833 by the British Monarchy, Crown Agents Bank has transformed into a digitally-enabled payments and FX specialist for frontier and emerging markets – serving some of the hardest-to-reach territories across the world. Since 2016, the bank has experienced a four-fold increase in revenues, is profitable, with bolstered governance, robust compliance, a stable credit rating and a programme for sustainability and diversity. Thanks in no small part to the 2019 Segovia acquisition the bank now provides a much wider range of digital payment and FX capabilities across a much expanded geographical reach: all while maintaining and deepening the bank’s core wholesale client base and focus on frontier and emerging markets.
“I feel now is a good moment to hand over,” says Albert, “especially as – in Bhairav – we have found a new CEO for the Bank with the experience and capabilities to complete the bank’s transition, all in line with Helios’s strong future-vision for transforming what was a traditional bank with deep roots in developing markets into a global, digitally-enabled specialist provider of FX and payment services to some of the fastest growing but often under-served markets around the globe.”
“The appointment of Bhairav points to both continuity – of the transformational process begun by Albert in 2017 – and towards the bank’s final destination as a UK regulated, globally oriented, fully-digital provider of payments, FX and ancillary financial services to some of the most exciting growth markets in the world,” said Jeremy Parrish, Chairman of Crown Agents Bank. “In his ability to take the business to the next level, Bhairav has my personal and full confidence.”