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SAN FRANCISCO – Visa USA has named a new CEO to replace Carl F. Pascarella, who held the CEO and president positions for Visa USA since 1993. Last July, Pascarella announced his intention to retire from the organization by September 2005. The new CEO is John Philip Coghlan, who comes to the card brand after 17 years at Charles Schwab and Company, where he most recently served as vice chairman of The Charles Schwab Corporation and as president of the Schwab Individual Investor Group. “From a list of many highly qualified candidates, John was the Board’s overwhelming choice because of his extraordinarily successful track record in the financial services industry and his proven leadership skills across a range of areas critical to Visa’s future success,” said Patrick Phillips, chairman of the Board of Visa USA; president of card services, Bank of America; and head of the CEO search committee.

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