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Payments Industry Veterans Launch McGovern Smith Advisors

Companies mentioned in this article: McGovern Smith Advisors

WASHINGTON -- (BUSINESS WIRE) -- Veterans of the payments industry have launched McGovern Smith Advisors, LLC, a new Washington, D.C. based payments consulting and advisory firm dedicated to helping companies manage their payments businesses during this time of rapid change and significant threat from emerging technologies, increasing regulatory activity and intense competition.

The firm’s founders have decades of operating and advisory experience in the debit, credit, prepaid, commercial card, merchant acquiring and emerging payments areas as well as in government relations/regulatory compliance.

The team is equipped to provide clients with a range of payments advice and payments card consulting services, including new product development; strategic sourcing, partnership formation and vendor negotiation; financial and profitability analyses/improvement; marketing strategies and implementation; regulatory/compliance assessment; and mergers and acquisitions. The firm also offers government relations services, including advocacy, information, education and consumer campaigns.

“What sets McGovern Smith Advisors apart is our depth of payments industry experience that enables us to offer practical, actionable advice for a fast-growing and ever-changing industry that is facing complex challenges,” said Managing Partner Bill Westervelt.

Other industry leaders from around the Washington Metropolitan area are also excited for the launch of McGovern Smith Advisors. When asked what he thought of the new payments consulting and advisory firm, Nigel Morris, Managing Partner at QED Investors in Alexandria, VA, said, "In my many years working in the payments industry, I have had the opportunity to work with Bill Westervelt and his partners at McGovern Smith Advisors across a wide range of initiatives. I have always found them to be knowledgeable and creative in helping clients solve complex problems.”

The leadership team includes:

  • Bill Westervelt, founder of First Annapolis Consulting and a 35-year veteran of the payments industry assisting card issuers, acquirers, transaction processors and others in resolving complex business issues.
  • John J. McGovern, Jr., who has more than 28 years of government relations and legal experience in Washington, D.C., including serving as a staff member for former U.S. Sen. Richard G. Lugar of Indiana and legislative counsel to the chairman of the Securities and Exchange Commission
  • Jeff Slawsky, a 30-plus year veteran of the payments industry, both domestically and internationally, with proven operational and strategic skills and a history of successful payment card product innovations, including the first frequent flyer credit card.
  • Jim Leroux, with over 20 years of experience in the payments industry as an operator, consultant and attorney, including former president of SVM, a Chicago-based gift and prepaid card company, and former partner and general counsel at First Annapolis Consulting.
  • Paul Reymann, over 28 years in compliance and risk management, including 13 years with the U.S. Department of Treasury. Co-author of the Gramm-Leach-Bliley Data Protection regulation. Visionary behind outsourced managed compliance products and services to make it easier and cost effective for businesses to meet today’s tsunami of regulatory challenges.

The firm is headquartered in Washington, DC with satellite offices in Annapolis, MD (410-544-6250) and in Boston. Email:

About McGovern Smith Advisors

Based in Washington, DC, McGovern Smith Advisors is a payments industry advisory firm comprised of veteran industry practitioners as well as experienced government relations and compliance experts. The firm’s unique combination of experienced industry veterans, deep understanding of the payments industry and comprehensive advisory services means its clients receive advice that is informed, efficient and actionable. McGovern Smith Advisors provides strategic and tactical insights with respect to all forms of payments (debit, credit, commercial, prepaid, etc.) as well as merchant acquiring and emerging payment forms such as mobile and EMV. Clients include financial institutions, program managers, transaction processors, payment networks, technology companies and other companies involved in the payments industry. For more information visit

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for McGovern Smith Advisors
Jeffrey Davis, 410-372-0827