Goggin, 51, is a banker with an impressive international record, particularly in the markets of Asia where card-based payment systems are experiencing explosive growth.
He is currently based in Hong Kong as Managing Director and Regional Executive for Chase Manhattan Bank's corporate and institutional business in Continental and Southeast Asia. He also is a director of Manhattan Credit Card Limited, Chase's publicly listed credit card company in Hong Kong. In a 23-year career with Chase Manhattan Bank, he has served in increasingly responsible positions. These include General Manager, Corporate Finance, for the bank's United Kingdom and Northern Europe operations, and Senior Vice President and General Manager for corporate wholesale banking in Hong Kong, Taiwan and the People's Republic of China.
Goggin succeeds Lindsay Pyne who announced in January his resignation after successfully heading the region the past several years.
"Asia-Pacific is one of Visa's fastest growing and most dynamic business regions, with huge potential for growth in card usage. Visa is the market leader in Asia-Pacific and is sustaining its leadership through a wide range of ongoing initiatives," said Edmund P. Jensen, president and chief executive officer of Visa International.
"After an extensive international search over the past four months, we are delighted to have secured someone of Dennis Goggin's caliber and experience in Asia to build upon the progress achieved by Lindsay Pyne."
Jensen added, "I would like to thank Lindsay Pyne for the significant contribution he has made to our organization and for his willingness to work through the transition period. The infrastructure, management team, policies and products which Lindsay has put in place will underpin our future growth and we wish him well in his future endeavors."
A native of the United States, Goggin earned his Masters degree at Indiana University after graduating magna cum laude from Michigan State University. He was also a Fellow at Indiana University's Russian and East European Institute.
Visa and its member financial institutions posted strong growth in the Asia-Pacific region in 1995 with Visa payment volume increasing 27 percent to $92.4 billion. Nearly 80 million Visa cards have been issued in Asia-Pacific.
Headquartered in the San Francisco Bay Area, Visa is the world's largest consumer payment system. It plays a pivotal role in developing and implementing new technologies that benefit its 19,000 member financial institutions and their cardholders, businesses, governments and the global economy. Visa's 499 million cards are accepted by more than 12 million merchants worldwide. The Visa/PLUS network consists of more than 277,000 ATMs in 100 countries. Visa's Internet address is http:/ /www.visa.com.
CONTACT: David Brancoli of Visa International, 415-432-3830/
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