Alliance Data/Comenity Credit Cards: New Leadership, Again

Alliance Data/Comenity Credit Cards: New Leadership, Again

Alliance Data/Comenity Credit Cards: New Leadership, Again

Both Bloomberg and Business Journals reported on a short serving CEO at Alliance Data, a top private label credit card issuer. After 5 months at the helm, and a shift of headquarters from Dallas to Columbus, CEO Melissa Miller is out, and Citi’s Ralph Andretta is in.  Mr. Andretta assumes the position in February, leaving the retail-centric business in rocky times as we hit the winter holiday season.

The timing is ironic, as The American Banker named Synchrony’s CEO, Margaret Keane, the third most powerful woman in finance. First, on Synchrony:

Now, on Alliance Data:

As Business Journal reports:

Then, let’s turn to Bloomberg:

Private Label Credit Cards play a significant role in U.S. consumer credit.  Mercator’s 2018 report on the market estimates there are more than 300 million PLCC cards in the U.S., with Alliance Data in a field of top issuing companies such as Capital One, Citi, Synchrony, and TD Bank. 

Watch for an update for the market, which Mercator plans to publish before the end of 2019.

Overview by Brian Riley, Director, Credit Advisory Service at Mercator Advisory Group

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