Swift CEO Lázaro Campos has announced his resignation after 25 years in the company, and will be replaced by current head of marketing Gottfried Leibbrandt.

Leibbrandt, who will take up his new role on 1 July, was a partner at McKinsey & Company before joining Swift, and holds an MBA from Stanford and a PhD from Maastricht.

Campos, is stepping down to pursue other opportunities after five years at the head of Swift, during which the company reduced costs by 30% and prices by 50% while almost doubling volumes.

Swift chairman Yawar Shah says: “The board joins me in thanking Lázaro for his dedication and service and we wish him all the best in his future endeavours. Gottfried Leibbrandt has been part of the Swift executive team for five years and he is very well qualified to take over the baton. I am confident he will ensure Swift will continue to improve on its tradition of excellence and innovation in support of the global financial community.”