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Marion King of BACS Gains 2004 Lifetime Achievement Award

LONDON (29 April, 2004) — The CEO of BACS Limited, Marion King, was awarded the 2004 Award for Lifetime Achievement at the Women in Banking and Finance’s (WIBF) annual Award for Achievement Lunch held at Claridges in Mayfair, London on Friday 23rd April 2004.

The WIBF awarded Marion for her outstanding contribution to the finance and banking industry highlighting her candor and skill in handling the difficult challenge of turning BACS, a not-for- profit utility organisation, into a commercial for profit business. They also rewarded her commitment to developing the business and creating opportunities for further growth and ability in setting new benchmarks for business excellence and her previous outstanding achievements during her management career at Reuters..

Pandora Omaset, Chair of WIBF, commented: “Her core values of effective and ongoing communication, providing a trusting and supportive framework for the organisation and staff to develop to their full potential further impressed the judges.”

Marion King comments: “This is an excellent award to be presented with and I am honoured to receive such acknowledgement from WIBF. Since I joined in 2002, BACS Ltd has gone through some major changes, most recently has launched its first joint venture, but there is still a job to be done in encouraging businesses and consumers to utilise the benefits of electronic payments. I have benefited immensely in having such a strong management team behind me at BACS and I would like to pay tribute to their skill and vision in pushing forward my programme of change.”"

Since joining BACS, Marion has successfully created a seven-year business plan, changed the governance structure of the company , delivered BACSTEL-IP member migration on schedule, and formed BACS’ first joint venture with US company, CheckFree. The new company will lead the movement from paper to electronic bills and statements in the UK and will enable consumers in the UK to view bills and statements online, as well as pay them, via services provided by High Street banks nationwide.

Prior to BACS, Marion was at Reuters for 14 years, initially as Managing Director of Business Information, leading the division through a sales growth that defined its leading position in Europe. In 1997, Marion became Managing Director for Reuters East Asia operation based in Hong Kong where she managed all business development and operations in Greater China, Indo China and the Philippines. She managed the business through the hand over of Hong Kong to China including the news and media bureau and completed negotiations with Xinhua, the Chinese Government news agency, achieving the first commercial contract between China and a western news agency.

Women in Banking and Finance (WIBF) is a non-profit making leading professional organisation committed to empowering its members in the banking and finance industry to realise their full potential. Founded in 1980, WIBF is solution orientated, advising corporations and offering individuals the tools with which to fulfil individual potential in and out of the workplace. Over 200 women members and guests of from all sectors in the financial services attended the 2004 Award for Achievement Lunch on Friday 23rd April 2004.