BA financial services chief quits

The chief executive of British Airway’s global financial services arm, Charles Weiser, is leaving the company to join Australian financial services company Rams.

Weiser will be replaced by internal candidate Jim Law, who is working as manager of financial services. Weiser has additional responsibility as senior manager of financial services and Law will take up this role.

However, it is unclear whether Law will immediately take on the role of chief executive. He previously worked at Marks & Spencer and was involved in the retailer’s launch into financial services. Law will report to Robert Faulkner, chairman of British Airways global financial services.

Weiser says: “I have done some fun things for the ten years I’ve been here. I am now moving on to Australia and this is my last couple of weeks in the office. The timing is completely coincidental.”

BA announced disappointing quarterly results two weeks ago and said that it would be cutting 1,000 jobs, many at its Heathrow headquarters.

During his time at British Airways, Weiser helped broker the airline’s link with the Royal Bank of Canada.

The deal enabled BA to offer a range of financial services launched in June, which include offshore deposit accounts, travel loans, a BA branded Visa debit card and cheque book and the option to pay multicurrency standing orders in 26 countries.

British Airways said in June that it was targeting some 15 per cent of the 2 million executives who travel each year.

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