People in the news: MasterCard Cobranding Chief, a Chicagoan, Leaving To Head Sears' Development Effort

Roebuck and Co. Kristine Crow, senior vice president of affinity and cobranded marketing, decided to leave MasterCard less than one year after her promotion to that post. Her title at Sears will be manager of market and product development. Timothy Malloy, who was senior vice president of strategic planning in the card association's Asia/Pacific region, will replace Ms. Crow. He will be based at MasterCard's Purchase, N.Y., headquarters. MasterCard spokesman Michael O'Brien said Ms. Crow, a nine-year MasterCard veteran who earlier had been senior vice president of the Midwest region, hails from Chicago. The new position meant "splitting her time" between the Windy City and New York, which "can get hectic," he said. Taking the job at Sears, which is based in Chicago, should limit the traveling burden, he said. Mr. Malloy came to MasterCard last March from Visa International, where he served as general manager of Asia/Pacific, responsible for products and marketing. He also worked for Bank Duta in Jakarta, Indonesia, where he was responsible for retail bank planning and new-product development. "We feel Tim's diverse knowledge and experience will be an invaluable asset to the U.S. region," said Alan J. Heuer, MasterCard's U.S. region president. "While Kris' contributions are sure to be missed, we are confident that MasterCard will continue its cobranding and affinity leadership under" Mr. Malloy, Mr. Heuer added. Anita Boomstein, a cobranding expert and partner at Hughes Hubbard & Reed, a New York law firm, said the development is "not good for continuity." She said building relationships with member banks is integral to the cobranding process and Mr. Malloy will have to start from scratch. She pointed out that MasterCard lagged behind Visa in launching major cobranding programs in 1995. Stephen Bartell led MasterCard's charge into the cobranding arena, from 1988 until 1994.