Toby Mason joins Bermuda Monetary Authority as COO
Former Allica Bank chief operating officer (COO) Toby Mason has joined the Bermuda Monetary Authority (BMA) as its new COO.
Mason spent three-and-a-half years at the SME-focused bank before taking a short break in December last year.
Established in 2019, Allica recently raised £110 million in funding and acquired the UK SME portfolio of AIB Group.
Prior to Allica, Mason was a member of the payments board at UK Finance, the trade body representing the country’s banking, payments, card and mortgage industries.
Before that, Mason spent two years as COO at ClearBank, the first new UK clearing bank for 250 years, between 2017 and 2019.
Mason’s longest stint was at American Express, where he spent almost two decades. Initially working as a reengineering director in Brighton, he also spent time in both Singapore and New York City.
He returned to the UK as head of global cardmember payments in 2012, responsible for global transaction processing, strategy, compliance and transformation.
After two-and-a-half years in that role, Mason became general manager, global payments services and system assurance, responsible for processing around 500 million cardmember bill payments with a value approaching $1 trillion annually for all American Express countries globally, and for leading payment strategy and change for the company.