Schaumburg, IL, January 12, 2009- Moneris Solutions US, one of North America's largest payment processors, today announced two significant organizational changes; former President of Humboldt Merchant Services, Ken Musante, was named Chief Sales Officer, Moneris US, and former SVP – Director of Operations at Humboldt Merchant Services, Linda Grimm, was appointed SVP of Operations, Moneris US.
"I'm extremely pleased to announce these two new appointments," said Greg Cohen, president, Moneris US. "One of the benefits of the Humboldt acquisition was the dedicated and talented work force. Ken and Linda are perfect examples. Both have significant strategic experience, which can be leveraged to better Moneris."
In his new role, Musante will be responsible for all of Moneris' sales activities, including its Direct Sales and ISO initiatives and new business development. Among those reporting to Musante, will be industry veterans David Magley, SVP, regional sales; Pat Albright, SVP, business development; Xavier Ayala, VP, national sales; and Joe Garza, VP, direct sales.
"I'm excited about the opportunities afforded by the combined companies," said Musante. "Our sales professionals and merchant customers will benefit from the lower costs, expanded products and aggressive underwriting. I look forward to working with David, Xavier, Pat and our entire team in my new capacity."
Grimm will oversee all of Moneris Solutions' US operations, including risk, customer service, deployment and vendor and association relationships. A 12-year veteran of the payments industry, Grimm has extensive experience in all aspects of merchant acquiring operations.
Moneris Solutions acquired the assets of Humboldt Merchant Services in a deal that closed in November. Prior, Humboldt had been one of the US' largest bank-owned acquirers, with a portfolio of more than 18,000 merchants and processing more than $2.5 billion in bankcard volume annually. The resulting organization is combining products and service platforms and will maintain both brands in the marketplace, particularly in the niche markets they serve.
About Moneris Solutions:
Moneris Solutions is one of North America's largest payment processors. A joint venture between Royal Bank of Canada and Bank of Montreal, which combined have assets in excess of $700 billion, Moneris Solutions provides payment processing products and services to more than 350,000 North American merchants and processes more than two billion payment transactions annually. For more information, visitwww.monerisusa.com.
For more information, please contact:
Terry Banike,
847-240-7553
terry.banike@moneris.com