First Data Corp. announced the promotion of Kenneth A. Vecchione to president and group executive for business development of the electronic funds services unit.

Mr. Vecchione, 42, is responsible for strategic planning, sales and acquisitions, and the direction of credit, fraud, and risk management activities.

Before joining First Data in 1994, he was chief financial officer of Citicorp Credit Services.

He will retain chief financial officer responsibilities and report to Roger Peirce, group president of electronic funds services.

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