Paddy Power Appoints New CFO

Irish betting firm Paddy Power has appointed the former head of Ulster Bank Cormac McCarthy as its new Chief Financial Officer.

Since stepping down from Ulster Bank in March 2010, he joined the bookmaker’s board as a non-executive director last August.

Paddy Power reported last week that revenue for the year had risen 28 percent so far, and it had began to speed up expansion throughout the business, following its launch into the Italian online market.

Chief Executive Patrick Kennedy also said that, as well as entering betting markets in Australia, Canada and France, and acquiring a games developer in Bulgaria, the betting firm also has a team in San Francisco keeping a close eye on the legality of online gambling in the United States.

Of course you may think that this doesn’t mean much in terms of the 2013 Grand National but always remember that a healthy, happy and profitable bookmaker is always more likely to give the best new customers deals!!