Mastercard appoints new president for Asia-Pacific

Mastercard announced on Tuesday (Aug 26) that Richard Wormald, who is currently division president, Australasia at the company, will be stepping up as the new president, Asia-Pacific.

Wormald brings regional experience and a strong track record of leadership to the position, having led Mastercard’s business in Australasia with a focus on performance, innovation and stakeholder engagement.

This new role is effective Jan 1, 2026, and is part of the payments company’s leadership transition in the Asia-Pacific region, with Ari Sarker set to step down as president, Asia-Pacific at the end of 2025.

Following more than a decade in the role, Sarker will move into an advisory position, where he will focus on strategic initiatives and mentoring regional leadership to support a smooth transition, Mastercard noted.

Ling Hai, president, Asia-Pacific, Europe, Middle East and Africa, Mastercard, said: “Sarker’s influence across the region has been profound. He’s championed innovation and inclusion, and built deep relationships with governments, fintechs and enterprises.”

Sarker and Wormald will work together over the coming months to support a smooth transition by engaging with stakeholders across markets.

Mastercard also said that Paul Monnington will join the company in January 2026 as division president, Australasia, succeeding Wormald. Monnington brings extensive experience in retail payments and fintech innovation, having led Woolworths’ Wpay business and held senior roles at Woolworths Group and National Australia Bank.

He said the company’s focus on innovation, inclusion and customer partnership resonates with him, and he “looks forward to contributing to its continued success in Australasia”.

Monnington will report to Wormald and be part of Mastercard’s Asia-Pacific leadership team. In his role, he will oversee markets including Australia, New Zealand and the Pacific Islands.