Marqeta names Stripe, JPMorgan alum as CFO
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Marqeta names Stripe, JPMorgan alum as CFO. The Stripe veteran is joining the card issuer as it continues to focus on profitability following a 27% jump in gross profit for its most recent quarter. Dive brief: * Card issuing platform Marqeta appointed Stripe alum Patti Kangwankij to the role of CFO, effective Feb. 9, with the goal of aiding the business by enhancing profitability and driving growth, according to a Wednesday press release and securities filing. * The appointment comes several months after the Oakland, California-based company announced it was beginning a search for a new CFO in September, following the appointment of finance chief Mike Milotich as its CEO, according to a press release at the time. Milotich has held the dual position of CFO and CEO since assuming the top executive seat on an interim basis last February. The appointment was made permanent in September. * Kangwankij's expertise in the payments space and financial leadership will be a "critical asset as we continue to execute our strategy, scale our platform, and enable customer innovation in card issuing," Milotich said in a statement included in the Wednesday release. "Patti is the right leader to guide our finance organization and help accelerate our momentum and capture the significant opportunities ahead." Dive insight: Kangwankij will be joining the payments firm from Roofstock, a real...
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