Banking Circle appoints Piers Cracknell as Chief Executive in Australia
Mark Tibbles to continue in advisory and Board roles through the planned succession
SYDNEY, 1 July 2026 – Banking Circle today announces the appointment of Piers Cracknell as Chief Executive Officer of its Australian business, effective 1 July 2026. Mr Cracknell, who has served as Chief Commercial Officer since Banking Circle’s acquisition of Australian Settlements Limited (ASL), succeeds Mark Tibbles in a planned succession that preserves continuity of strategy, standards and relationships.
Mr Tibbles led the Australian business through a defining chapter, including the integration of ASL into Banking Circle’s global platform and the establishment of the combined business, serving its Australian clients as an Authorised Deposit-taking Institution (ADI). He will continue as a special advisor until 31 December 2026 and will continue to serve on the Banking Circle Australia Board for a further six months, providing 12 months of support throughout the transition.
As Chief Commercial Officer, Mr Cracknell has been central to Banking Circle’s growth in Australia, driving commercial strategy across the combined Banking Circle Australia (ASL) and Banking Circle business. Mr Cracknell is a proven payments leader, bringing more than 25 years’ experience from major Australian and international banks and payments businesses.
Matt Lawrance, Chairman of Banking Circle Australia, said:
“This is a planned and carefully governed succession, and one the Board endorses with full confidence. Mark has built Banking Circle into an Australian bank of real significance, and in Piers, we have a proven leader who understands our clients, our strategy and our standards. Mark’s continuing advisory and Board roles reflect the deliberate, orderly nature of this transition.”
Mark Tibbles, outgoing Chief Executive Officer of Banking Circle Australia, said:
“It has been a privilege to lead this business through such a significant chapter. Together, we have built an Australian bank with real global reach, and I hand over to Piers with complete confidence. He has been a close partner throughout the acquisition and integration of ASL, and his understanding of our clients and our strategy is second to none. I look forward to supporting Piers, the team and the Board as the business continues to grow.”
Piers Cracknell, incoming Chief Executive Officer of Banking Circle Australia, said:
“Banking Circle has built a compelling and differentiated proposition for Australia’s banks, fintechs and payments businesses – regulated, connected and built for the demands of modern payments. I am energised by the opportunity ahead and focused on executing on that proposition for our clients, while continuing to scale and develop our platform as an ADI. I am grateful to Mark for his leadership and to the Board for their support.”
About Banking Circle Australia
Banking Circle Australia is an Authorised Deposit-taking Institution (ADI) and part of the global Banking Circle Group, a next-generation financial infrastructure provider for banks, payment service providers and financial institutions. Bringing together local regulatory presence and direct access to Australia's payment systems with global banking and settlement capabilities, Banking Circle supports the secure, compliant and efficient movement of funds across domestic and international payment rails. Banking Circle partners exclusively with regulated institutions and does not provide services to private individuals.
About Banking Circle S.A.
Banking Circle S.A. is a public limited liability company (Société Anonyme) and a credit institution (e.g., a bank) headquartered in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF) as its home regulator. Banking Circle S.A. has branches in Denmark, Sweden, Germany, and the UK, and subsidiaries in Liechtenstein, Singapore and Australia. As a fully licensed bank, Banking Circle S.A. enables payments companies and banks of any scale to seize opportunities in the new economy – quickly, at low cost.
Banking Circle S.A. is a modern correspondent bank committed to building a local clearing network for all major currencies, to deliver fast, low-cost payments with no hidden fees for the beneficiary. It provides a suite of unique and award-winning banking solutions, including multi-currency banking accounts and Virtual IBANs, bank connections for local clearing and cross-border payments, all underpinned by market leading compliance and security. Through bespoke, flexible, scalable and futureproof solutions Banking Circle S.A. is enabling financial institutions to help their customers transact across borders in innovative ways.
