Oct. 27, 2009 (Business Wire) -- Travelex, a leading provider of international payments and foreign exchange solutions, announces the expansion of its vertical market strategy for the financial institution and legal sectors globally with the appointment of Christopher Russell and a team that will roll out Travelex’s tailored solutions.

Industry veteran Christopher Russell will serve as Travelex’s executive vice president for global vertical markets and will set the strategy and sales for all products to financial institutions and legal firms worldwide. Mr. Russell has more than 10 years of industry experience and formerly served as the executive vice president and regional divisional director for the Partners Division of Travelex. He has also worked at leading firms such as First Data Corporation and Global Payments Inc. where he pioneered the construction of company sales models and provided networking strategies to maintain consistent growth.

“Our vertical market strategy, focusing on the financial institution and legal sectors, has resulted in tremendous business success for Travelex North America and we’re excited to have Mr. Russell and his team roll out this model at a global level,” said David Sear, divisional managing director, Travelex Global Business Payments. “We believe that Mr. Russell’s industry experience, together with Travelex’s tailored GlobalPay Alliance and Legal products, positions Travelex to continue to provide best-in-class service to financial institutions and legal firms around the world. We look forward to replicating this successful North American strategy in other regions throughout the world.”

Mr. Russell’s team will include two direct new reports, Alfred Nader and Mike Rockouski, each responsible for the financial institution and legal sectors respectively. Mr. Rockouski will serve as vice president and will be responsible for improving the profitability of financial institutions within North America. Mr. Nader will serve as vice president and is responsible for driving sales for both existing and new clients, which currently service the needs of prestigious law firms in North America.

Mr. Russell and Mr. Nader will be based in Washington, DC. Mr. Rockouski will be based in Denver, CO.

GlobalPay Alliance is an award-winning, web-based application that allows financial institutions to quickly set up beneficiaries, quote and order foreign currency, make international payments and report on previous transactions. With flexible integration options, the platform can be used by financial institutions of any size and is suitable for all types of payments - domestic and cross border, urgent and non-urgent.

GlobalPay Legal implements the same payment and beneficiary processes as Alliance but is uniquely tailored to law firms.

About Travelex Global Business Payments

Travelex is a global foreign exchange specialist providing the payment and receipt of domestic and international funds for businesses of all sizes. For more than 30 years, Travelex has provided clients with sophisticated market knowledge, leading edge technologies and practical and innovative solutions tailored to individual requirements.

Every year, Travelex processes payments around the world over 35,000 businesses to 1 million beneficiaries.

For more information, visit www.travelexbusiness.com/na. In the United States, services will be provided by Travelex Global Business Payments, Inc. or Travelex Currency Services. In Canada, services will be provided by Travelex Canada Limited.