MoneyGram International Adds Innovative Leader

MoneyGram International, (NASDAQ: MGI), a leading global money transfer company, today announced that W. Alexander Hoffmann has been appointed to the company’s executive leadership team as senior vice president, global product management and emerging channels.

“MoneyGram is committed to continually enhancing its focus on innovation,” said Pamela H. Patsley, MoneyGram’s chairman and chief executive officer. “Alex has an impressive history of creating, developing and growing new products and services. He is an accomplished, hands-on strategist with vast global experience, and a veteran leader in the financial services sector. I am pleased that Alex has joined our leadership team.”

In his new role, Hoffmann will lead MoneyGram’s global product portfolio, emerging channels and MoneyGram Online. Hoffmann was previously head of consumer growth for Europe, Middle East and Africa at PayPal. He has 20 years of experience in payments and cards, online services and technology, and a strong track record of building new products from concept to launch.

Prior to his position at PayPal, Hoffmann spent 12 years at McKinsey & Company in Brussels, Belgium, and Palo Alto, California, working with clients in the payments and telecommunications industries. Hoffmann will be based at the company’s headquarters in Dallas, Texas.

About MoneyGram

MoneyGram, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers bill payment services in the United States and Canada and money transfer services worldwide through a global network of more than 321,000 agent locations – including retailers, international post offices and financial institutions – in 198 countries and territories. To learn more about money transfer or bill payment at an agent location or online, please visit moneygram.com or connect with us on Facebook.

Copyright Business Wire 2010

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