Wednesday, 04 February 2015 16:36
Former Visa counsel joins Credorax
Appointment as chairman of board

Digital merchant acquiring bank Credorax has appointed former Visa Inc general counsel Joshua Floum as chairman of its board of directors.

Floum has 30 years experience in financial services, payments, advanced technologies, governance and risk initiatives.

Prior to joining Credorax, he served as the executive VP and general counsel at Visa Inc and serving on its executive committee. Floum was instrumental in guiding Visa through its IPO, which led to the then-largest public offering in US history. He devised the company's "retrospective responsibility" plan, which shielded the new organisation from legacy legal liabilities.

"With licenses now solidified across Europe and Japan and in the near future in the US, Credorax is on the brink of becoming the first global smart acquirer," said Benny Nachman, CEO of Credorax. "It is therefore critical that we move forward with an even stronger global board of directors."

Before joining Visa, Floum served as chairman of the California litigation practice of Holme, Roberts & Owen, where he specialised in antitrust and competition law, intellectual property, bank card and banking practices, and telecommunications law.