MoneyGram Names Anthony Soohoo as CEO

DALLAS, Oct. 28, 2024 /PRNewswire/ -- MoneyGram International, Inc. ("MoneyGram" or the "Company"), a leading global financial technology company that connects the world's communities, today announced that its Board of Directors has appointed Anthony Soohoo, an experienced technology executive with deep expertise leading digital transformations that enhance growth strategies, to the role of Chief Executive Officer. Effective immediately, Mr. Soohoo succeeds Alex Holmes, who has served as MoneyGram Chairman and CEO since January 2016. Mr. Soohoo will be responsible for executing the Company's focused digital innovation strategy, while strengthening and expanding MoneyGram's leading global partner network. To ensure a smooth transition, Mr. Holmes will remain an advisor to the MoneyGram Board of Directors.

"MoneyGram is an iconic leader in cross-border, digital payments with a strong global network and foundation for growth," said Brendan Barrett, MoneyGram Board Director and Managing Director at Madison Dearborn Partners. "With the rate of digitization accelerating faster than ever, MoneyGram is at a pivotal moment in its journey to make secure and reliable financial services accessible for more customers across the globe, and Anthony is the right leader with the unique expertise needed to oversee the Company's next chapter of growth. We are grateful for Alex's many contributions to MoneyGram and we look forward to supporting Anthony as he assumes leadership of the Company."

Mr. Soohoo joins MoneyGram with a successful track record at global, Fortune 50 companies driving significant growth and overseeing digital transformations that enhance all aspects of enterprise growth strategies. He most recently served as Executive Vice President of Walmart's Home Division, where he spearheaded a highly successful digital transformation that enhanced all of the business segment's sales channels and solidified Walmart Home's position as the nation's largest retailer of home goods. Previously, Mr. Soohoo held various executive roles at CBS, Yahoo and Apple, and successfully founded and sold multiple technology businesses. He has over 30 years of combined experience at the intersection of technology, business and artificial intelligence. He received his bachelor's degree from the University of California, Davis, and an MBA from Harvard Business School.

"Through a unique and diversified global payments network encompassing digitally enabled solutions and retail locations, MoneyGram plays a critical role in providing essential support and strengthening connections for so many customers around the world, and I am honored to lead the Company through its next chapter of growth while championing its longstanding mission," said Mr. Soohoo. "This is a great company with an incredible global team, and I look forward to connecting with our leaders across the organization, as well as our partners around the world, to identify MoneyGram's greatest opportunities. By keeping the customer at the center of everything we do, I am confident that we can enhance our market position and shape a brighter future for MoneyGram, our customers, and our partners."

Mr. Holmes added: "It has been my privilege to lead MoneyGram over the past eight years, and I am proud of our remarkable transformation as we digitized the business and reinvigorated the brand to better serve our customers around the world. I am confident in the future of MoneyGram and look forward to seeing all that this team will accomplish."

About MoneyGram

MoneyGram International, Inc. is a global financial technology company enabling consumers and businesses to move and manage money in nearly every country around the world. Through its innovative cross-border platform, MoneyGram provides millions of consumers globally the ability to send money home for family and friends to pick up in cash or receive directly to a bank account, mobile wallet or card. The Company is a pioneer in the use of blockchain technology at scale and also enables consumers to buy, sell and hold digital currencies on its industry-leading app. With one of the world's most extensive and dynamic cash distribution networks, MoneyGram has become the single largest on and off-ramp provider for digital currencies in the world. The MoneyGram team spans the globe with over 2,000 employees across 36 countries, representing more than 75 nationalities. Headquartered in Dallas, Texas, and known for its strong corporate culture globally, MoneyGram has been named a recipient of the Top Workplaces USA award for three consecutive years. By the numbers, MoneyGram serves more than 50 million people in over 200 countries and territories each year, processing more than $200 billion USD annually. Relentlessly digital-first and customer-centric, the Company's digital transactions now account for over 50% of its money transfer business.

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SOURCE MoneyGram