Amazon's VP, general manager of payments departs

Matt Swann, Amazon's VP and general manager of payments, has parted ways with the company as he moves to lead Citigroup's cards and payments business.

Swann was most recently responsible for launching projects like Local Register, Amazon's answer to Square, and the Amazon Wallet. The latter was recently shuttered after a poor performance and an increasingly crowded mobile payment market due to the successes of Apple Pay and Google Wallet.

He joined the company in 1999 and served as a director for five years before leaving to work at Citadel. He returned in 2006 when he assumed his most recent role. Amazon has yet to make any announcement about his successor.

While Swann's departure had led some to believe layoffs at Amazon could occur in the near future, it appears that the team responsible for Amazon Wallet has been assigned to other projects. Charlie Kindel, who was director for the mobile wallet, is now part of Amazon's Echo team, while many others have moved over to Amazon's Web Services or its retail business. Story