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MASTERCARD (MA)
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Mastercard : Brings On Former U.S. Trade Chief -- WSJ

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04/17/2018 | 08:48am CEST

By AnnaMaria Andriotis

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (April 17, 2018).

Mastercard Inc. has hired Michael Froman, a former Obama and Clinton administration official, as vice chairman and president of strategic growth.

Mr. Froman will be in charge of teams promoting card usage and financial inclusion in markets abroad and in the U.S. through partnerships with governments and other entities.

The hire is part of the latest efforts at Mastercard, the second largest card network in the U.S., to partner with governments to boost card payments. The company in recent years teamed up with subway systems in Chicago and London to work on replacing subway cards with a payments system that allows consumers to use contactless-enabled debit and credit cards to enter the subway system. Mastercard says it is in the early stages of working on this conversion with the New York City subway.

Mastercard teamed up with the South African government several years ago to change how certain social benefits are paid to residents. The benefits are now being distributed with prepaid cards in lieu of cash, the company says.

Mr. Froman will report to Mastercard chief Ajay Banga. The two worked together at Citigroup Inc. in the early 2000s. Mr. Froman was U.S. trade representative during the Obama administration and a Treasury official during Clinton's presidency.

Write to AnnaMaria Andriotis at annamaria.andriotis@wsj.com

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Financials ($)
Sales 2018 14 951 M
EBIT 2018 8 353 M
Net income 2018 6 472 M
Finance 2018 3 111 M
Yield 2018 0,46%
P/E ratio 2018 35,77
P/E ratio 2019 29,72
EV / Sales 2018 15,2x
EV / Sales 2019 13,3x
Capitalization 230 B
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Mean consensus OUTPERFORM
Number of Analysts 40
Average target price 227 $
Spread / Average Target 2,7%
EPS Revisions
Managers
NameTitle
Ajaypal S. Banga President, Chief Executive Officer & Director
Ari Sarker Co-President-Asia Pacific
Richard Neil Haythornthwaite Chairman
Edward McLaughlin President-Operations & Technology
Martina Hund-Mejean Chief Financial Officer
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