Earthport Promotes Daniel Marovitz to COO, President of Europe

Earthport, a cross-border payment network, has shuffled its executive board, following the announcement that the group’s Chief Operating Officer (COO), Chris Cowlard, will be relinquishing his role on June 3 2016 – in his place, company mainstay, Daniel Marovitz, Earthport’s acting European president, will step into the new role as President - COO, according to a company statement.

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Mr. Cowlard’s decision to step down snaps a five-year stint with the company, having played a key role developing Earthport from an early stage venture to a regulated global Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company. For his part, Mr. Marovitz will be absorbing the responsibilities of Cowlard, in addition to keeping his existing role as President of its European operations.

Mr. Marovitz originally joined Earthport back in February of last year, based out of the group’s London office. Prior to Earthport, he has also held a number of board positions at companies such as Catalytic DS, Inc and Professional Diversity Network.

He has also worked as the CEO of Faculty of 1000 Ltd as well as the founder and CEO of buzzumi.com. Finally, he held the position of Managing Director and Head of Product Management, Global Transaction Banking at Deutsche Bank, along with several other global banking roles for the lender, dating back to 2000, according to information made public on his Linkedin profile.

According to Philip Hickman, Non-Executive Chairman of Earthport, in a recent statement on the shakeup: "On behalf of the board I would like to thank Chris for his significant and valuable contributions to Earthport over the past five years and we all wish him well in his future career."

"We are delighted to welcome Daniel to the role of COO. Daniel has been a great asset to the Company in leading our European business and we are certain he will make a positive impact in his new role as we continue to drive the business forward,” added Hank Uberoi, CEO of Earthport, in an accompanying statement.