Banking News

Tyro nabs Tatts Group CEO

Tyro nabs Tatts Group CEO

(24 January 2018 – Australia) Tatts Group chief executive Robbie Cooke has been appointed as CEO of point-of-sale payment provider turned bank, Tyro.

Cooke, who was also formerly travel-website Wotif CEO, has been most recently responsible for the merger between Tatts and Tabcorp.

"Tyro ticked a lot of boxes. It's tech driven with a customer focus and the fact it's challenging the banking institutions attracted me and it's an opportunity to lead a very successful team," Cooke said.

"It has a significant and strongly growing credit and debit card processing services business in operation. A key focus is to keep that growth profile recurring... and it has two new products, the ability to take depositions and also a loans business for its client base, so I'll focus on ensuring those businesses grow and achieve their potential."

Cooke will take over from interim CEO and board member, Rob Ferguson who replaced Gerd Schenkel in the role, after his eight month tenure between October 2016 to June 2017.

Tyro claims 20,000 small and medium sized businesses as customers, utilising its cloud-based banking platform.

In the financial year to June 30, Tyro processed more than A$10 billion in payment transactions, which generated A$120.6 million in revenue - up 26 percent year on year.

The company, which employs around 400 people, was valued at A$500 million in 2015, following a $100 million capital raise. In the 2015 financial year it recorded A$72.3 million in revenue.

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