New Independent Chair

"Brings a wealth of skills and senior level payments experience to the Board gained both in Australia and overseas." 



5 February 2014

APCA Appoints New Chair

The Australian Payments Clearing Association, the payments industry self-regulatory body, announced today the appointment of Mr Robert Craig as the company’s new independent chair effective 1 January 2014.

Mr Craig succeeds Mr Russell Rechner who retired at the end of his term in December 2013. APCA deputy chair Mr Stuart Woodward acknowledged the significant contribution made by Mr Rechner during his six-year service as APCA chair.

“Russell presided over a period of steady expansion in APCA’s workload and increased value to the payments industry and its participants. This culminated in members voting for major constitutional changes to enhance industry governance in Russell’s last general meeting as chair. On behalf of the Board, I thank him and wish him all the best,” said Mr Woodward.

Mr Craig brings a wealth of skills and senior level payments experience to the Board gained both in Australia and overseas. Prior to 2008, his 25-year career in financial services included senior roles at Westpac Banking Corporation, National Australia Bank, Bank of New Zealand and National Westminster Bank.

In 2008, Mr Craig left banking to pursue alternative interests, including private equity and start-up investment. Since 2010 he has also been working with international consulting firms KR Strategy and ICG (where he is currently Practice Leader - Transformation) specialising in leading large scale organisational transformation programmes.

Mr Craig has been appointed to a three-year term and will chair his first meeting of the APCA Board on 6 February 2014.

Mr Woodward said the Board was delighted that Mr Craig had accepted the position. “The payments industry is entering a sustained period of structural and regulatory change, with major developments under way such as the New Payments Platform and the proposed Payments Council. APCA is in the centre of this evolution. With his all-round experience and passion for transformation, Rob will be a valuable addition to the industry leadership team,” said Mr Woodward.

Mr Craig said that he was looking forward to the challenge offered by his new role. “This is an exciting time for APCA and the payments industry. I look forward to working with my fellow directors and the APCA team to improve Australia’s payments system,” said Mr Craig. 




Ida Turner, APCA Communications Tel. (02) 9216 4817
Mobile: 0409 716 556 

Australian Payments Clearing Association Limited ABN 12 055 136 519
Level 6, 14 Martin Place, Sydney NSW 2000 Telephone +61 2 9216 4888 Facsimile +61 2 9221 8057