The Swift Board of Directors appointed Yawar Shah Thursday to serve as the company’s next chairman of the board as current Chairman Jaap Kamp retires after serving 12 years on the board.
Stephan Zimmermann has been chosen to serve as deputy chairman.
Shaw, executive vice president and global operations executive for worldwide securities services at JP Morgan Chase Bank, was elected a SWIFT director in 1995 and was moved to deputy chairman in 1996. He replaces Kamp, who has sat as chairman since 2000.
Deputy Chairman-elect Stephan Zimmerman has worked as chief operating officer of Global Wealth Management & Business Banking for UBS AG.
In addition to the two new top-level appointments, SWIFT also announced the election of five new directors.
The new directors include Ignace Combes, Alan Goldstein, Eli Sinyak, Per-Eric Skotthag and Jeffrey Tessler, who hail from Belgium, the US, Hong Kong, Sweden and Luxembourg respectively.