MONEYCORP ANNOUNCES THE APPOINTMENT OF VELIZAR TARASHEV AS THE GROUP'S CHIEF EXECUTIVE OFFICER

LONDON, July 5, 2023 /PRNewswire/ -- Moneycorp, one of the world's leading cross-border payments businesses, today announces that Chief Financial Officer, Velizar Tarashev has been appointed by the Board as the Group's next Chief Executive Officer effective immediately.

Velizar will succeed Mark Horgan, who will step down after 12 years in the role. Mark will remain on the Board of Moneycorp and will assume the role of Deputy Chairman in early 2024.

Velizar has a long track record of successful execution in regulated financial services. Before joining Moneycorp in 2021, he spent more than a decade at Barclays in various leadership roles including Finance, Strategy and Technology.

Alan Bowkett, Chairman of Moneycorp, said:

"Today's announcement marks a transition to the next generation of global leadership for Moneycorp to ensure it delivers its long-term strategic objectives.

"We are delighted that Velizar will lead the company into the future. Velizar is an established leader with an impressive track record of delivery. Since joining the Group, Velizar has been instrumental in the development and implementation of Moneycorp's strategy, business model and culture, making him the perfect candidate to take the Group forward.

"On behalf of the Board, we thank Mark for his significant contribution to Moneycorp. Under his leadership the Group has transformed from a domestic, consumer focused, analogue provider of foreign currency to an international currency solutions and payments provider. We are fortunate that Mark will continue to provide counsel to Moneycorp in a non-executive capacity as Deputy Chair."

Mark Horgan commented:

"I hand over Moneycorp in excellent shape having overseen fundamental transformation in the size and scale of the business during my 12 years as CEO. I am very proud of all we have achieved together and am confident that the business will continue to go from strength to strength under Velizar's leadership."

Velizar Tarashev said:

"It is a privilege to assume the responsibilities of CEO of Moneycorp. We have a well-established strategy, best-in-class people and an excellent client base which give us significant opportunities for further growth. I look forward to leading the business as it enters its next phase, executing our strategy and delivering strong results for all stakeholders."

Notes to Editors

About Velizar Tarashev

Velizar Tarashev joined Moneycorp as Chief Financial Officer in February 2021. He has 20 years of international strategic and operational experience for global banks and consultancies in the UK and the US. He joined Moneycorp from Barclays, where he spent 13 years in a variety of leadership roles, including CFO for Barclays Private Bank and CFO for the Operations and Technology division. Prior to joining Barclays, Velizar spent several years with UBS Investment Bank, helping establish its Banking M&A and IPO offer for the CEE region, and at AT Kearney, where he delivered strategy and operations consultancy for major FMCG and pharma brands.

About Moneycorp

Moneycorp is a world-leading cross-border payments business, recognised for its personalised service, smart technology, regulatory excellence, and its all-in-one payments ecosystem. Truly embodying our brand's distinctive logo, the North Star, we help our clients navigate the complex global payments market. We have a presence in the United Kingdom, North America, Europe, Brazil, Hong Kong, and UAE offering a full suite of payment solutions in over 120 currencies. Further, our payment experts provide hard-to-replicate proficiency, alleviating the stress associated with navigating the complex global payments market. All in all, we are committed to innovation and building meaningful relationships.

Through our technological advancements, we have engineered an intuitive payments ecosystem allowing us to expand our services to meet ever-evolving customer needs. Whether our clients need to simply send money across borders or create a sophisticated risk management plan, we have the tools necessary to create the customised solution our clients need.

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