US-based private equity firm General Atlantic has appointed former president of Visa, Hans Morris, to head the firm's investments in the global financial services industry. Morris has been working as a special advisor for the firm for the past year and will be based in New York.
Morris acted as president of Visa, a global payments technology company, from 2007 to 2009. His primary responsibilities involved “managing Visa’s regions and overseeing all sales and marketing”, according to a statement.
Morris will help GA access a sector it perceives to be “particularly attractive”, said William Ford, chief executive officer of GA, in a statement.
GA manages approximately $15 billion in capital, with $1.7 billion in growth equity invested this year alone, of which nearly $1 billion has been in financial services companies. The firm, which has a target investment size ranging anywhere from $50 million to $500 million, has held stakes in companies including the national stock exchange of India and E-Trade, an online brokerage business.