Banking industry veteran appointed to Earthport board

Earthport gained a veteran of the US banking industry on Wednesday, announcing the appointment of John McCoy to its board as a non-executive director.

The AIM-traded payment network for cross-border payments said McCoy's experience was vast, having retired as chairman and chief executive of Bank One Corporation in 1999. He had been CEO there since 1984.

Bank One was the fourth-largest bank in the United States at the time. In 2004, Bank One merged with JPMorgan Chase, creating the country's largest bank.

While at Bank One, McCoy was a member of the US Federal Advisory Council and on the board of the Bankers Roundtable.

"I am delighted to welcome John McCoy as a member of our board of directors," said Earthport chairman Phil Hickman.

"John brings a wealth of experience to Earthport, as his outstanding career in banking, technology and private equity has helped numerous companies to grow and prosper. I am confident that John's strategic oversight will materially contribute to our success," he added.

McCoy was currently a director of American telecommunications giant AT&T, Onex Corporation, the PGA Tour Policy Board, and sat on the advisory boards of Second Curve Capital and FTV Capital.

He was also a former member of the board of trustees at Williams College and Stanford University, and a past chairman of the board of trustees at Kenyon Colllege. McCoy was a member of the board of directors, as well as a former board chair at Battelle Memorial Institute.

"Earthport's global payment network has the potential to transform the way in which cross-border payments are conducted across the globe, greatly improving efficiencies and reducing costs," said McCoy on his appointment.

"I am therefore very pleased to be joining the Board of this exciting growth company."