Jeff Parker, SVP and managing director, international at Margeta, has announced that he isstepping down from his position at the California-headquartered card issuing firm.

Parker revealed the news via Linkedln last Friday, stating "my time at Margeta is coming to anend". He adds that despite a relatively short tenure, he has "loved every minute"

He first ioined the paytech in September 2022 following an almost six-year stint at internationabusiness payment provider WorldFirst, where he held a variety of leadership positions, mostlatterly as director and CEO following the London-based fintech's acquisition by China's AntGroup in February 2019.

Margeta hired Parker to build out its international go-to-market and operational functions andboost its position in the markets of Europe and APAC.

Founded in 2010 by Jason Gardner, Margeta offers a B2B open API payments platformfeaturing issuing, processing, digital banking and risk control functions.

lnitially securing its European foothold in London in 2018, the paytech expanded its operationsto Melbourne, Australia in April 2021, followed by launches in Singapore, the Philippines andThailand last year.

However, when the company revealed a quarterly net loss of $69 million for Q1 2023, Margetawas forced to shut its Australian outpost "with immediate effect" in May.

Parker gives no indication of his exact reasoning for leaving the company or what his nextintentions are, but promises to "update you all shortly"