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MoneyGram Announces Organizational Changes To Support Strategic Goals

MoneyGram (NASDAQ:MGI), a leading global money transfer and payment services company, today announced several operational and organizational changes to better support the Company’s corporate objectives, including its goal of reaching $2 billion in annual revenue in 2017. These actions include realigning the organizational structure and commencing a global transformation program designed to help MoneyGram lead the industry in compliance, fuel multi-channel growth and improve its cost structure.

MoneyGram has made several changes to its executive committee to position the Company for continued growth.

  • W. Alexander Holmes has been named chief operating officer, effective immediately. He will also maintain his current titles and responsibilities as executive vice president and chief financial officer. In his expanded role, Holmes will be responsible for oversight of all finance, technology and operations functions.
  • Several key leaders who focus on sales and revenue growth, emerging markets and new product development and innovation have also been promoted. The following executives have been named executive vice president of their respective positions and will continue to report to MoneyGram’s chairman and chief executive officer, Pamela H. Patsley: W. Alexander Hoffmann, Global Product Management and Emerging Channels; Grant Lines, Asia Pacific, South Asia and Middle East; and Peter Ohser, U.S. and Canada.
  • In addition, given the increasing importance and strategic benefit of leading a world-class compliance function, MoneyGram’s chief compliance officer, Phyllis Skene-Stimac, has joined the executive committee and will report directly to Patsley.

“I am excited about the changes we’ve announced today on our executive committee,” Patsley said. “Alex Holmes has been a tremendous asset to MoneyGram since he joined us in 2009, and we look forward to benefiting from his considerable insights in this additional capacity. His demonstrated track record of success across multiple areas of our company, from finance to corporate strategy, has distinguished him as an exceptional leader. We have an incredibly talented leadership team focused on ensuring that MoneyGram continues to be the preferred brand for millions of consumers around the world who rely on our services to meet their everyday financial needs.”

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