Western Union Co. has hired
Stewart Stockdale, the former chief marketing officer for Simon Property Group, to serve as president of the U.S. and Canada region. It's a move the global leader in financial transaction processing says will free up chief strategy officer David Barnes (pictured) to focus on M&A and strategic alliances.
Barnes, who has been leading a number of initiatives for the U.S. and Canada business, will now focus on accelerating the firm's growth initiatives. Western Union hasn't said what those initiatives might be, but our sister blog Dealscape offered some
possibilities,
saying that with earnings from Latin America -- particular Mexico -- weakening, the company will likely look for growth opportunities in Asian countries with growing immigrant
populations in the U.S.
There has been deal activity in the sector. No. 3 provider Euronet Worldwide
bought Ria Envia Inc. for $490 million last year, and also pursued its larger rival MoneyGram International Inc. In February Euronet
dropped its bid for MoneyGram, which received a
$760 million equity infusion from Thomas H. Lee Partners LP and Goldman Sachs Capital Partners in March.
-
Baz Hiralal
See the announcement about Stockdale
Join Corporate Dealmaker's LinkedIn forum
Cuong Viet Do
And the winners are...
