BNET Industries
Market Cap:$13.0B
Last Fiscal Year Sales:$490.0M
- Public
- US
Dow Jones Description
Western Union, formerly Western Union Financial Services, is a global leader in money transfer, with a history dating back more than 156 years. Today, Western Union continues to help consumers and businesses transfer money, send payments, and purchase money orders and prepaid services. Consumers can quickly and easily transfer money to approximately 320,000 Western Union Agent locations in more than 200 countries and territories, enabling friends and families to stay connected across towns or across continents.
President & CEO
Christina A. GoldNumber of Employees 6,100
Contact Information
12500 E. Belford Avenue
Englewood, Colorado 80112
866-405-5012
Peer Companies
NAICS Code Financial Transactions Processing, Reserve, and Clearinghouse Activities: 522320
Recent Events
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Western Union Extends Agreement with Postal Savings Bank of China
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Western Union reports 25% decrease in Q3 earnings
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Western Union Inks New Agents: Largardere Services, Ortel Finance, PayUp
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Western Union Signs Three Major New Agents in Europe: Largardre Services, Ortel Finance and PayUp
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Western Union acquires Custom House
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Western Union Appoints Michael A. Salop Senior Vice President of
News & Analysis
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western union co. - All News and Analysis
The Western Union Company Q3 2009 Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Your first question comes from Greg Smith - Duncan Williams. Greg Smith - Duncan Williams Christina, you talked about prepaid. I was hoping you could expand a little on that and what you think the market opportunity is and how the play out for...
The Western Union Company F2Q09 Earnings Call Transcript
The Western Union Company WU F2Q09 Earnings Call July 21, 2009 8:00 am ET
The Western Union Company F2Q09 Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions Your first question comes from Tien-Tsin Huang – JP Morgan Tien-Tsin Huang – JP Morgan I wanted to first ask about Mexico. Basically all of the metrics for all the other regions in growth, etc. are all in line, I guess Mexico is really the...
The Western Union Co. Q1 2009 Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions Your first question comes from Bryan Keane – Credit Suisse. Bryan Keane – Credit Suisse The operating margins were significantly better than I expected at 28.4%, but you are kind of maintaining a guidance of 27% operating margin. I'm just trying to see if there...
The Western Union Co. Q4 2008 Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Your first question comes from Tien-Tsin Huang - JP Morgan. Tien-Tsin Huang - JP Morgan What are your underlying assumptions for C2C principal per transaction in 2009? It looks like you are expecting transaction growth to stay within, give or take, four key levels....
The Western Union Company Q3 2008 Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions Your first question comes from Adam Frisch – UBS. Adam Frisch – UBS Wondering about the disparity between transaction and revenue growth in international and EMEASA and because that had been closing in prior quarters that obviously was a big reason for more positive sentiment...
Ten Thriving Colorado Stocks
Stockerblog submits: Colorado is a state of thriving companies. The state’s industries are many and varied; from aerospace & satellite, to agriculture, bioscience, mining and natural resources, financial services, manufacturing and telecommunication. Some great key facts to know about Colorado are:There are over 100 companies in the aerospace industry...
Board and Executive Compensation in S&P 500
Richard Shaw QVM Group submits: Executive compensation and board largess with high paid executives is a hot topic recently. That spurred us to look comprehensively at some factual comparative data on the total cost of boards of directors and top executive teams among the S&P 500 companies (proxy SPY...
The Western Union Company F2Q08 (Qtr End 06/30/08) Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Your first question comes from the line of Kartik Mehta – FTN Midwest Securities Kartik Mehta – FTN Midwest Securities I wanted to ask about the renewals you had for your agents, have you been able to reduce any of the commission payment...
Western Union Co. Q1 2008 Earnings Call Transcript
Question-and-Answer Session Operator Operator instructions. Your first question comes from the line of Liz Grausam with Goldman Sachs, please proceed. Liz Grausam – Goldman Sachs Great, thanks. I wanted to touch on the margin goals that you outlined for 2009, with 50 basis points of expansion...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Christina A. Gold | President & CEO |
| Scott Scheirman | EVP and CFO |
| Anne McCarthy | EVP, Corporate Affairs |
| David Barnes | EVP, United States/Canada and Strategic Development |
| David Schlapbach | EVP, General Counsel and Secretary |
| Grover Wray | EVP, Human Resources |
| Guy Battista | Executive Vice President |
| Liz Alicea-Velez | EVP, Latin America/Caribbean |
| Robin Heller | EVP, Operations and IT |
| Royal Cole | EVP and General Manager, Payment Services |
| Hikmet Ersek | EVP and Managing Director, Europe/Middle East/Africa/South Asia |
| Ian Marsh | EVP and Managing Director, Asia Pacific |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Jack M. Greenberg | Chairman |
| Alan Lacy | Board of Directors |
| Betsy Holden | Board of Directors |
| Dinyar S. Devitre | Board of Directors |
| Mike Miles | Board of Directors |
| Roberto Mendoza | Board of Directors |
As the president and chief executive officer for The Western Union Company, Christina Gold is responsible for the financial and overall operational performance of the $5.3 billion company - a worldwide leader in money transfer, bill payment and prepaid services. Based at Western Union's global headquarters in Englewood, Colorado, Gold has executive management oversight of a network of over 379,000 Agent locations in 200 countries and territories. In addition, she oversees an employee base of over 5,600 people located in 50 countries. Prior to joining First Data Corporation, the former parent company of Western Union in May 2002, Gold was president and chief executive officer of telecommunications and e-commerce services provider Excel Communications. She also had a distinguished career with Avon where she served as president, Avon North America, and was credited with a significant turnaround of the cosmetic brand's U.S. business. Ms. Gold was recognized in 2003, 2006 and 2008 by Fortune magazine as one of America's 50 Most Powerful Women in Business. Gold was named one of Forbes magazine's "100 Most Powerful Women" in 2007 and 2008. BusinessWeek also named her as one of the top 25 U.S. managers in 1996. Gold serves on the board of directors of ITT Corporation and New York Life, and is a member of the Committee Encouraging Corporate Philanthropy. Gold is a graduate of Carleton University in Ottawa. She received the Award of Distinction - Faculty of Commerce & Administration from Concordia University in Montreal. She also received the "Batisseur," an honorary degree from the Professional Business School of Montreal, in recognition of her distinguished service to the business community.
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | President & CEO | Current |
| New York Life Insurance Company | Board of Directors | Current |
| ITT Corporation | Board of Directors | Current |
| The Western Union Company | Board of Directors | Current |
As executive vice president and chief financial officer, Scott Scheirman is responsible for the leadership and direction of the Finance organization of The Western Union Company including the Investor Relations, Treasury, Tax and Internal Audit functions. In addition, Scheirman is the past Chairman of the Western Union Foundation's Board of Directors and currently serves as a director. Prior to his current appointment, Scheirman held a variety of positions with First Data Corporation, Western Union's former parent company, most recently serving as the senior vice president and chief financial officer for Western Union from 1999 to 2006. Prior to joining First Data, Scheirman was responsible for leading multiple audit services for public and non-public clients for Ernst & Young. He is based in Englewood, Colorado, at Western Union's global headquarters. Scheirman holds a B.S. in Business Administration from the University of Northern Colorado, and is a Certified Public Accountant.
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | EVP and CFO | Current |
As executive vice president of Corporate Affairs for Western Union, Anne McCarthy oversees global media relations, employee communications, reputation management, public affairs, community relations and the Western Union Foundation. McCarthy is based in Englewood, Colorado, at the Western Union global headquarters. McCarthy joined Western Union in 2007 after working for four years as the senior vice president of Global Communications for SAP A.G., where she led communications activities for the Customer Solutions and Operations division. In addition, McCarthy has worked in senior-level positions throughout the world at E.I. du Pont de Nemours & Company, Polaroid Corporation, IBM Corporation, Sara Lee Corporation and Ogilvy Public Relations worldwide. She currently serves on the board of trustees for Alliance for Choice in Education, Colorado UpLift, the Denver Museum of Nature & Science and the Arthur W. Page Society. Additionally, McCarthy is an ambassador for MercyCorps, a Trustee of the Woodrow Wilson International Center for Scholars and is a member of the Wise Women Council. McCarthy earned a Bachelor of Arts degree in journalism from Michigan State University and has completed executive education programs at The Wharton School, the University of Pennsylvania and at INSEAD at Fontainebleau.
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | EVP, Corporate Affairs | Current |
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | EVP, United States/Canada and Strategic Development | Current |
As executive vice president, general counsel and secretary, David Schlapbach is the chief legal officer responsible for the company's legal and regulatory compliance matters. Prior to his current appointment, Schlapbach held a variety of positions at First Data Corporation, Western Union's former parent company, since joining it in 1996, including Deputy General Counsel - International, with responsibility for First Data's legal matters outside the United States. In this capacity, he worked in First Data's Paris office for four years, returning in 2004 to become general counsel for Western Union. Prior to joining First Data in 1996, Schlapbach was an attorney at the law firm of Blackwell Sanders Peper Martin LLP in St. Louis, Missouri. Schlapbach also serves as the chairman of the Board of Directors of the Western Union Foundation. Schlapbach earned a Bachelor of Arts degree, summa cum laude, from the University of Virginia, a Master of Arts degree from Stanford University, and a Juris Doctorate from Yale Law School.
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | EVP, General Counsel and Secretary | Current |
As executive vice president of Human Resources, Grover Wray is responsible for Human Resources strategy, including recruiting, deployment, development and total rewards for over 5,600 people in 50 countries. He is based in Englewood, Colorado at Western Union's global headquarters. Prior to taking his current position in September 2006, Wray joined First Data Corporation, former parent company of Western Union in October 2005 as senior vice president, human resources for Western Union. Prior to joining First Data, Wray served as vice president, leadership and professional development and staffing, for Janus Capital Group from 2004 to 2005. In addition, he held the role of chief human resources officer of North America for Heidrick and Struggles from 2003 to 2004. From 1988 to 2003, he held increasingly responsible senior management roles at Arthur Andersen LLP, culminating in the role of managing partner of human resources in North America. Wray holds a Bachelor of Science degree and a Master of Organizational Behavior degree from Brigham Young University in Provo, Utah.
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | EVP, Human Resources | Current |
As executive vice president and president of Western Union Financial Services, Inc., Guy Battista is responsible for ensuring both consumers and Agents experience flawless service in support of the money transfer business. Battista's focus includes customer service, along with risk and settlement operations. Battista is also responsible for corporate-wide real estate and physical security/fraud investigations. He is based in Englewood, Colorado at Western Union's global headquarters. Prior to his roles with Western Union, Battista served as executive vice president and chief information officer for First Data Corp., the former parent company of Western Union, from March 2001 to 2006. He oversaw the information services group responsible for supporting information technology needs, including network/data center services, for the company's core lines of business. Battista has more than 30 years of information technology experience. Prior to joining First Data in 1990, Battista held several senior technology management positions at Shawmut Corp. in Boston. Battista previously served on the board of advisors for the University of Colorado at Denver, helping to develop a masters program in Information Technology.
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | Executive Vice President | Current |
As executive vice president of Latin America/Caribbean for Western Union, Liz Alicea-Velez has executive management oversight for all Western Union sales, service, marketing, systems/operations, financial and support functions throughout Mexico, Central and South America and the Caribbean - the largest remittance receiving region in the world. Alicea-Velez joined First Data Corporation, the former parent company of Western Union in 1992. In her career with the company, she has held a number of increasingly senior-level positions, most recently serving as senior vice president of the Latin America/Caribbean region. Prior to joining First Data, Alicea-Velez held positions in both the software and Spanish-language television industries. Born and raised in the Bronx, New York, Alicea-Velez holds a bachelor's degree in psychology from Adelphi University and a Master of Business Administration from the Harvard Business School.
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | EVP, Latin America/Caribbean | Current |
As executive vice president of the Operations and Information Technology division of Western Union, Robin Heller is responsible for strategically aligning, prioritizing and synchronizing Western Union's global service strategies through product delivery, customer service initiatives, technological solutions and integration projects. Prior to her current appointment, she was senior vice president, Global Operations for First Data Corporation, Western Union's former parent company, from November 2004 until September 2006. From July 2003 to November 2004, Heller served in a similar capacity with Western Union. Prior to that time, she was senior vice president, Sales, Marketing and Operations for Western Union Commercial Services from July 2002 until June 2003 and senior vice president, Operations and Client Management for IPS, a First Data subsidiary, from July 2000 until June 2002. Heller is based in Englewood, Colorado at Western Union's global headquarters. Prior to joining First Data Corporation in 1998, Heller served as senior financial analyst at the First National Bank of Omaha in the strategic planning department. She currently serves on the board of directors at the University of Colorado - Denver School of Business, on the board of directors for Junior Achievement, Rocky Mountain Inc. and is also on the Wise Woman Council for the Women's Vision Foundation in Denver. Heller received her master's of business administration degree from the University of Nebraska in Omaha and her bachelor's degree in business administration with a major in finance from Iowa State University.
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | EVP, Operations and IT | Current |
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | EVP and General Manager, Payment Services | Current |
Hikmet Ersek, executive vice president and managing director for Europe, the Middle East, Africa and the Asia Pacific Region, is responsible for all areas of Western Union's business in the region, including sales, marketing and finance. Ersek joined First Data Corporation, the former parent company of Western Union in September 1999 as regional vice president for Western Union's Southern Europe region, later also taking on the Central and Eastern Europe region. In 2004, he was appointed senior vice president for Europe, Middle East, Africa and South Asia, recently moving into the executive vice president position. He is based in Vienna, Austria. Ersek also worked at Europay/MasterCard from 1986 until 1996 after a professional career as a basketball player. Before joining Western Union in 1999, Ersek was at GE Capital for 4 years. A native of Istanbul, Ersek has a degree in Economics and Business Administration from the University of Economics, Vienna, Austria.
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | EVP and Managing Director, Europe/Middle East/Africa/South Asia | Current |
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | EVP and Managing Director, Asia Pacific | Current |
Jack M. Greenberg was chairman (from May 1999) and chief executive officer (from August 1998) of McDonald's Corporation until December 2002. Greenberg joined McDonald's Corporation as executive vice president and chief financial officer and as a member of the board of directors in 1982. He served as a director of First Data Corporation from 2003 to 2006. Greenberg is a director of The Allstate Corporation, Hasbro, Inc., Innerworkings, Inc. and Manpower Inc.
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | Chairman | Current |
| Illinois CPA Society | Board of Directors | Current |
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| The Chicago Bar Association | Member | Current |
| McDonald's Corporation | Chief Executive Officer | Current |
| Illinois CPA Society | Member | Current |
| McDonald's Corporation | President | Former |
| McDonald & Company | President | Former |
| Arthur Young, Inc. | Former | |
| McDonald's Corporation | Chairman | Former |
| Abbott Laboratories | Board of Directors | Former |
| DePaul University | business degree and juris doctorate degree | Former |
| Commerce Corp. | Former | |
| School of Law | Former |
Alan J. Lacy has been a senior advisor to Oak Hill Capital Partners since July 2007. Mr. Lacy is the former vice chairman and chief executive officer of Sears Holdings Corporation which formed as a result of the merger of Sears, Roebuck and Co. and Kmart Holding Corporation. He previously served Sears, Roebuck and Co. as chairman of the board from December 2000, and as president and chief executive officer from October 2000. He served as vice chairman from March 2005 through July 2006 and as chief executive officer from March 2005 through September 2005. Mr. Lacy is a director of Bristol-Myers Squibb Company and a trustee of Fidelity Funds.
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | Board of Directors | Current |
Betsy D. Holden has been a senior advisor to McKinsey and Company since April 2007. She served as president, global marketing and category development of Kraft Foods Inc., a food business unit of Altria Group Inc., from January 2004 through June 2005; co-chief executive officer of Kraft Foods Inc. from March 2001 until December 2003; and president and chief executive officer of Kraft Foods North America from May 2000 until December 2003. Holden began her career at General Foods in 1982. She has been a director of Tribune Company since 2002.
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| General Atlantic, LLC | Special Adviser | Current |
| The Western Union Company | Board of Directors | Current |
| SABMiller plc | Board of Directors | Current |
| Altria Group, Inc. | Board of Directors | Current |
| Altria Group, Inc. | CFO & Senior Vice President | Former |
| Kraft Foods Inc. | Board of Directors | Former |
| Indian Institute of Management | M.B.A. | Former |
| Kraft Foods Inc. | member | Former |
Mike Miles has served as president of Staples, Inc. since January 2006 and as chief operating officer since September 2003. Prior to that, Mr. Miles was chief operating officer, Pizza Hut for Yum! Brands, Inc. from January 2000 to August 2003. From 1996 to 1999 he was senior vice president of Concept Development & Franchise at Pizza Hut.
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | Board of Directors | Current |
Roberto G. Mendoza is a co-founder of Deming Mendoza & Co., LLC, a corporate finance advisory firm, and has served as one of its partners since February 2009. Previously, Mendoza was non-executive chairman of Trinsum Group from February 2007 to November 2008. In February 2007, Trinsum Group was formed as a result of a merger of Marakon Associates and Integrated Finance Limited, a financial advisory company which Mendoza co-founded and of which he served as chairman of the board and managing director from 2002 to February 2007. He also served as managing director of Goldman Sachs from September 2000 to February 2001. From 1967 to 2000, Mendoza held positions at J.P. Morgan & Co. Inc., serving from 1990 to 2000 as director and vice chairman of the board. He is a director of PARIS RE Holdings Limited and Manpower Inc.
| Organization | Position | Status |
|---|---|---|
| The Western Union Company | Board of Directors | Current |
Executive News
-
Western Union Q2 earnings fall as remittances slow
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Western Union Q2 Profit Down 5%, Yet Tops View By Penny; Reaffirms FY09 Outlook - Update
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Western Union Reports Second Quarter Results
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Western Union to Release Second Quarter Results on July 21, 2009
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Western Union Highlights Accomplishments and Strengths at 2009 Annual Stockholders' Meeting
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Western Union Highlights Accomplishments and Strengths at 2009 Annual Stockholders’ Meeting
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