MoneyGram International's Management Discusses Appointment Of Alex Holmes As Chief Financial Officer Conference Call (Transcript)

MoneyGram International, Inc. (MGI)

March 2012 Investor Call

March 21, 2012 9:00 am ET


Eric Dutcher – Director of Investor Relations

Pamela H. Patsley – Chairman and Chief Executive Officer

W. Alexander Holmes – Executive Vice President and Chief Financial Officer


Julio Quinteros – Goldman Sachs

Robert Napoli – William Blair

Sara Gubins – Bank of America Merrill Lynch

Jim Kissane – Credit Suisse

Mike Grondahl – Piper Jaffray

Tien-Tsin Huang – J.P.Morgan



Please stand by, we are about to begin. Good morning ladies and gentlemen, welcome to the MoneyGram International March 2012 Investor Conference Call. Today’s call is being recorded. At this time all participants have been placed in a listen only mode. And the floor will be opened for your questions following the presentation. It is now my pleasure to turn the floor over to your host Eric Dutcher, Director of Investor Relations. Please go ahead, sir.

Eric Dutcher

Thank you. Good morning, everyone, and welcome. I must remind you that today’s call is being recorded and that various remarks we make about future expectations, plans and prospects constitute forward-looking statement for the purpose of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from expectations, plans and prospects contemplated in any forward looking statement as a result of various factors including those discussed in our filings with the SEC. I encourage everyone on this call to read our SEC filings including our 10-K for the year ended December 31, 2011 which was filed March 9.

With that, I’ll turn the call over to Pam.

Pamela H. Patsley

Thanks, Eric. Good morning and thanks everyone for joining us. Today we announced two senior level appointments and I wanted to take a few minutes to discuss this news with you. First, as I am sure you’ve heard by now Dutcher on the call, we have announced that Alex Holmes has been named Executive Vice President and Chief Financial Officer of the company effective immediately. Alex succeeds Jim Shields who served as MoneyGram's EVP and CFO since July 2010. Jim will remain with the company through May 15, 2012 in the event anything is needed to ensure a smooth transition. We expect this transition though to be seamless.

Jim’s contributions to MoneyGram’s reorganization and restructure, which began shortly after he arrived almost two years ago, have been widely important to MoneyGram’s turn around. We appreciate this and we wish Jim well and all the best in his future endeavors.

Many of you already know Alex. He has been with MoneyGram since 2009 and he has led our Corporate Strategy and Investor Relations department. Alex has extensive and detailed knowledge of the industry, MoneyGram’s business operations, our partnership activities and growth objectives. Now he is responsible for all finance related functions and the continued close collaboration with our business leaders and the development of MoneyGram's operational and strategic initiative.

With me and the support of Eric Dutcher, Alex will also continue to develop and expand MoneyGram’s involvement with the investor community, a role in which many of you already know him and a role typically with the CFO. Alex has been central to MoneyGram’s transformation over the last several years and we view his appointment as an important step in reinforcing the strength of MoneyGram’s finance department and leadership. Alex is with me on this call and he will be available to help answer your questions after a few remarks.

I am also very pleased with our other announcement this morning, naming Carl-Olav Scheible as Executive Vice President of Europe, Africa and emerging channel. Carl begins with MoneyGram April 16. I am really excited about this new position because it’s the first time we are not organizing solely around geographies or products. This position has been created to support our continued growth in our traditional market and to truly expand our presence in the virtual space.

Carl joins us from PayPal where for the last eight years he has held a variety of leadership position. He will be responsible for overseeing MoneyGram's business operations in Europe and Africa and also has the global responsibilities for our strategic expansion opportunity both online and through the formation of global partnership.

I see MoneyGram being a bigger player in these areas adjacent to our core business. Carl's payments acumen and experience will broaden our online, our mobile and emerging channel. He is an expert and brings the right mix of skills we need to lead this effort globally. Carl will report directly to me and he will be based in London. These appointments are the latest and series of actions we have taken during the past several quarters to upgrade our talent across the entire company to drive additional growth and cement our market leadership in money transfer services.

As MoneyGram has evolved and matured as a company, we have worked to identify new senior leadership with the capacity to lead MoneyGram’s talented employee base while maintaining and enhancing our public presence worldwide. We have already realized significant benefits from the recent additions of Larry Angelilli as Senior Vice President and Treasurer and of David Brown as senior Vice President and Chief Accounting Officer. We hope to maintain our positive momentum as we further align our leadership with the needs of our business.

With that, I’ll turn the call over to Alex for a few comments.

W. Alexander Holmes

Thanks, Pam. And thank you very much to everyone who sent such nice notes and texts to me this morning. This truly is a tremendous opportunity and I am extremely excited to lead the finance organization at MoneyGram.

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