NuData Security, a Mastercard subsidiary, announced that co-founder Christopher Bailey has been named chief executive officer, succeeding Michel Giasson, who is retiring as CEO after 12 years, according to a company release. 

Bailey, who was senior vice president and chief technology officer at NuData, was also named executive vice president of EMV/Digital Devices at Mastercard. Mastercard acquired NuData in 2017, about 10 years after the biometrics firm was founded. 

Bailey is responsible for NuData's strategic vision and direction of user verification intelligence, as well as overseeing Mastercard's digital device division, including the creation of an integrated security path with EMV. 

Ajay Bhalla, president of cyber and intelligence at Mastercard, said effective user verification has become a critical issue. 

"Christopher's diverse experience and deep security expertise will allow us to further scale NuData while leveraging our technologies and products to transform the digital payment experience," Bhalla said in the release.