MINNEAPOLIS--(BUSINESS WIRE)--Jan. 21, 2009--MoneyGram International (NYSE: MGI) today announced that its Board of
Directors has appointed Pamela Patsley as Executive Chairman of the
Board and named Anthony Ryan President and Chief Executive Officer. Ryan
also was elected to the MoneyGram Board of Directors.
"This is an exciting development for MoneyGram," said Seth Lawry,
Director and Chair of the Human Resources and Nominating Committee for
MoneyGram. "Pam Patsley has a proven track record in the payments and
processing industry. Her solid insight and international perspective in
combination with Tony's sound vision and strong employee and agent
relationships will be invaluable as we leverage opportunities to grow
the MoneyGram business across the globe and build value for all of
Patsley spent seven years at First Data Corporation, most recently as
President of First Data International, where she was responsible for all
of the company's business outside the U.S. Prior to First Data, she
served as CEO of Paymentech Inc., which she took public in 1996 and then
sold to First Data for an enterprise value of $1 billion in 1999. Since
leaving First Data in late 2007, Patsley has worked with private equity
firms to evaluate payment services business opportunities. Patsley
currently sits on the boards of three other public companies.
"There are tremendous growth opportunities in the global payments
industry," said Patsley. "I'm excited about the extraordinary
possibilities ahead for MoneyGram. This is a terrific organization with
a solid management team and I'm eager to help drive initiatives underway
to expand distribution and provide worldwide consumers with superior
value and enhanced payment products."
Tony Ryan, a 25-year industry veteran, joined MoneyGram in 1995 and has
been responsible for overseeing day-to-day operations of the Company
since June 2008. Prior to this, he served as Executive Vice President
and COO, President of MoneyGram Global Payment Products and Services,
and led the Global Funds Transfer Group, which included the
international money transfer business. Ryan spent his first six years
with the company in the finance area, serving as controller for two
business divisions and then as corporate Chief Financial Officer. Prior
to joining MoneyGram, Ryan spent 10 years with First Data Corp. in
Ryan said, "I'm honored to be named CEO and very appreciative of the
Board's support. I'm looking forward to working closely with Pam and our
senior management team to continue to build a world-class organization.
Through the focused work of a very talented and dedicated team of
employees and an outstanding group of agent partners, we have laid a
solid foundation for future growth."
In addition to Patsley and Ryan, MoneyGram's board of directors is
composed of Thomas M. Hagerty, Managing Director, Thomas H.
Lee Partners, L.P.; Jess T. Hay, Chairman, Texas Foundation for Higher
Education; Scott L. Jaeckel, Managing Director, Thomas H. Lee
Partners, L.P.; Seth W. Lawry, Managing Director, Thomas H. Lee
Partners, L.P.; Othon Ruiz-Montemayor, Chairman, Grupo
Inversiones Monterrey, S.A. de C.V. and former Chief Executive Officer
of Grupo Financiero Banorte, S.A. de C.V. and Fomento Economico
Mexicano, S.A. de C.V.; Ganesh Rao, Principal, Thomas H. Lee
Partners, L.P.; and Dr. Albert M. Teplin, an economist formerly with the
Board of Governors of the Federal Reserve.
MoneyGram International, Inc. is a leading global payment services
company. The company's major products and services include global money
transfers, money orders and payment processing solutions for financial
institutions and retail customers. MoneyGram has approximately 176,000
global money transfer agent locations in 180 countries and territories.
For more information, visit the company's website at www.moneygram.com.
CONTACT: MoneyGram International
Lynda Michielutti, 952-591-3846
Source: MoneyGram International