AUSTIN, Texas, Nov. 9, 2011 /PRNewswire/ -- Rev Worldwide, a payment services company for underserved markets, announced that John J. Mack has been appointed to the Company's Board of Directors and participated as a strategic investor in the Company.
Mack's storied career at Morgan Stanley began in 1972, and over the years he was promoted to Partner, President of the public company and then CEO and Chairman.
From 2001-2005, Mack left Morgan Stanley to serve as co-Chief Executive Officer of Credit Suisse Group and Chief Executive Officer of Credit Suisse First Boston. When he returned to Morgan Stanley, he was elected to his current position of Executive Chairman of the Board. Mack is often credited with stabilizing the firm, and reenergizing its culture, throughout the financial crisis in 2008. In July 2010, Mack was named to the board of China Investment Corp., China's primary sovereign wealth fund.
"Rev is a company on a great mission, with a great team and products, facing an exciting global market opportunity. I believe the impact I can have on the company is significant, and I'm looking forward to helping them grow," said Mack.
"Rev is going through a period of transformational growth, and John Mack's incredible track record of success makes him a perfect fit for the pace at which our company is moving," said Roy Sosa, Co-Founder, Chairman and CEO of Rev Worldwide. "With his industry knowledge, operating expertise, and strategic guidance, Rev is in a unique position to accelerate in executing on its objectives. On a personal level, Bertrand and I are honored by the opportunity to be mentored by John as we seek to grow Rev into a top tier global company."
John Mack joins prepaid debit industry pioneers and Rev founders Roy and Bertrand Sosa, renowned investors and entrepreneurs, Billy Joe "Red" McCombs from Texas and Mexico's Jorge Vergara, among others, as a shareholder of the Company.
About Rev Worldwide
Rev Worldwide is dedicated to driving the widespread availability of financial services in underserved markets around the world. Rev helps partners rapidly and effectively access hard-to-reach markets and enables underserved consumers to make affordable, safe and convenient financial transactions. Rev's full range of integrated mobile and prepaid card solutions – including Rev-branded, co-branded and affinity products – are issued by banks, powered by its multi-language, multi-currency processing platform, and delivered by partners and Rev directly to consumers through its growing retail network. Rev is headquartered in Austin, Texas and operates in North America, Latin America, Europe and Asia-Pacific, and is a member of the MPOWER Ventures investment portfolio. Learn more at www.revworldwide.com.
SOURCE Rev Worldwide