Former Telstra digital boss Gerd Schenkel has taken up a new role as chief executive of payments processor, Tyro Payments.
It is Mr Schenkel's first job since leaving telecom giant Telstra in April after five years as executive director & founder of Telstra Digital.
The 47 year-old was part of the executive team under former Telstra chief executive David Thodey, who was replace by Andrew Penn in May 2015.
Mr Schenkel has more than 17 years' experience in Australian banking and technology related businesses and holds a postgraduate robotics degree from Germany's University of Stuttgart.
He founded Australia's first home-grown digital deposit and mortgage bank, UBank, in 2008. The business, a unit of National Australia Bank, has around $20 billion in customer balances.
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Tyro is Australia's only independent EFTPOS banking institution, and is the first new entrant into the bank business in more than 18 years.
The appointment of Mr Schenkel follows Tyro securing a bank licence and $100 million in new capital, outgoing CEO and biggest shareholder, Jost Stollmann said on Thursday.
Mr Schenkel's will take over the Tyro CEO reins on October 24, while Mr Stollmann will continue with the company as a full-time executive director.
