Bankrate Names First COO

North Palm Beach, Fla.-based Bankrate (NYSE: RATE  ) got its first COO this morning.

On Wednesday, Bankrate announced that it has hired the former CEO of global online B2B travel distributor GTA by Travelport, Kenneth S. Esterow, to become its new Chief Operating Officer -- a position Bankrate newly  created. Bankrate says that Esterow will be in charge of "leading new product development, improving marketing efficiency, expanding deeper partner integration, and enhancing operational excellence."

Explaining the need for the hire, Bankrate CEO Thomas R. Evans pointed out  in a press release that "as the company has grown larger and become more diversified, there has been a need to continue to add to the management team to take advantage of the additional opportunities for growing the company. Ken's experience as a leader and operator brings an added talent to our company."

Prior to running GTA, Esterow held positions at Cendant Corporation, where he ran the firm's Travel Industry Services, Americas, division, at The Netmarket Group, and at Deloitte Management Consulting.

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