First Data names new president of China, North Asia business

SHANGHAI, China - First Data Corp., a leader in payment services and electronic commerce, announced in an Aug. 1 news release the appointment of Nigel Lee as president of First Data's China and North Asia business.

Lee, formerly of Electronic Data Systems, replaces Henry Tsuei, who will return to operations for First Data in the United States. Before joining First Data, Lee was director of financial services, Asia Pacific for EDS, where he was responsible for pan-Asian financial services, consulting and line-management business. Previously, he served as chief information officer of Australian Home Loans Ltd.

"I am pleased to welcome Nigel to our international management team as we embark on the next phase of business expansion in the China and North Asian market," said Pamela H. Patsley, president of First Data International. "Nigel's in-depth knowledge of local industry and regulatory trends, combined with a deep understanding of the global financial services industry, will allow us to build on our solid foundation in the region. I am confident that under his leadership we will be well poised to extend our portfolio of services, and maximize the promise of explosive growth that the region holds for the future."

Since First Data's launch into the regional market in 2002 with the first data center of its kind to be certified by the Chinese government, the business has grown exponentially, now serving four of the five largest commercial banks in China and more than 12 other financial institutions across North Asia. Tsuei is credited with establishing the business and leading a significant expansion of its client base in the China and North Asian region.

Lee's appointment follows a recent announcement of First Data's expanded presence in China and North Asia through a series of new business relationships that will introduce a broader set of solutions to meet the dynamic demands of the payment services market.

"First Data has unrivalled payment services expertise globally, and in just three years has built an impressive track record across the region," Lee said. "Our strategy will include introducing the full breadth of capabilities offered by First Data's product and services portfolio to new and existing clients. I look forward to helping both public and private sector clients leverage our best practices to create world-class payment solutions that will drive business and economic growth as the market evolves."