Richard R. Verma returns to Mastercard as Chief Administrative Officer to oversee the company’s Law, Government Affairs & Policy, Franchise, Corporate Security, Inclusion & Belonging and Transformation, Risk & Operations (TRO) functions.

He will also join the Executive Leadership Team and Management Committee.

Verma most recently served as the U.S. Deputy Secretary of State for Management and Resources. In this role, he was Chief Operating Officer of the department, leading the department’s efforts on modernization, workforce and strategic issues. Prior to his earlier tenure at Mastercard as the Chief Legal Officer and Head of Global Public Policy (2020-2023), Verma served as the U.S. Ambassador to India, Assistant Secretary of State for Legislative Affairs, and National Security Advisor to the Senate Majority Leader.

Mastercard also announced the appointment of Tim Murphy as Vice Chair.

Murphy, who has served as Chief Administrative Officer since 2021, will build on his career with the company to oversee a range of strategically important initiatives, including the company’s relationships with global regulators.

Both positions are effective May 1 and will report to Michael Miebach, Mastercard’s CEO.

Murphy originally joined Mastercard in 2000 and thereafter became one of the lead lawyers for the company’s initial public offering. Throughout his tenure, he has blended business and legal insights to accelerate the company’s performance and growth, serving at different times as President of the U.S. region, Chief Product Officer, General Counsel and Chief Administrative Officer, in addition to several other roles.