Wellesley Guided BMO into a Position as a Major T&E Corporate Card Issuer, Bolstered by Diners Club International Acquisition
TORONTO, Feb. 9 /CNW/ - Terry Wellesley, executive managing director of BMO Spend & Payment Solutions, a division of BMO Financial Group (NYSE, TSX: BMO), has been named to Business Travel News elite list of the "25 Most Influential Executives in the Business Travel Industry in 2009".
The BTN award cites Wellesley's vision and achievements in building a formidable competitive position in the corporate card industry - culminating in BMO's acquisition of the Diners Club North America franchise in late 2009. Through the acquisition and complemented by strong existing payment solutions, BMO is now one of the largest and fastest-growing commercial card issuers in North America.
Wellesley joins top executives from airlines, hotels, travel management companies (TMCs), government agencies and financial institutions, who collectively set the tone for business travel excellence worldwide in 2009.
"This year's list of the 25 most influential executives reflects the decisions that shaped the business travel industry in 2009 and which serve as the prologue for the decisions of today and tomorrow," said David Meyer, editor-in-chief of Business Travel News. "Terry Wellesley's actions last year helped shift the landscape in the corporate card segment and provided buyers with more of a substantial alternative to the handful of other options available for managing T&E expenses."
As organizations ease travel restrictions, tight controls on T&E expenses remain a top-priority - driving the surge in demand for corporate card programs that provide spend visibility and encourage employee compliance with corporate travel policies.
Over the last few years, Wellesley and his team have assembled a best-in-class portfolio of T&E programs, advisory services and industry partnerships. Drawing from this comprehensive portfolio of corporate card programs and services, BMO Spend & Payment Solutions' team helps organizations realize the full value of their card programs, contributing to millions of dollars in cost savings and revenue generation for clients.
"In the past year especially, corporate card programs and payment solutions have become one of the most strategic tools organizations have to control T&E costs and encourage compliance with spend policies in this tough economic environment," said Wellesley. "It is a great honor to be recognized with such an elite group of leaders, and one that I share with everyone at BMO Spend & Payment Solutions. It's an acknowledgement of the stature of our company in this industry, and of our ability to compete successfully against any travel & entertainment card issuer in the world."
BTN is considered a top authority on the business travel industry worldwide. The full list of influencers can be found in the February 2010 issue of Business Travel News and at: http://www.btnonline.com/businesstravelnews/headlines/frontpage_display.jsp?vnu_content_id=1004061515
About Business Travel News
Business Travel News is the Web site for news and research for businesses that manage travel. BTNonline provides original daily news updates, Business Travel News newspapers in a searchable archive that dates back to 1996 and access to BTN's seven annual research works.
About BMO Spend & Payment Solutions
A division of BMO Financial Group, BMO Spend & Payment Solutions is a leading commercial card, spend and payment solutions provider in North America. BMO Spend & Payment Solutions' products are widely used by corporations, non-profit and government-sector organizations to manage, control and gain better visibility into their commercial spending and payments.
SOURCE BMO BANK OF MONTREAL
For further information: For further information: Company Contact: Ralph Marranca, BMO Financial Group, (416) 867-3996, Ralph.Marranca@bmo.com; Media Contact: Nina Gill, Corporate Ink, (617) 969-9192, firstname.lastname@example.org