Western Union Announces Devin B. McGranahan as New Chief Executive Officer
November 15 2021 - 7:30AM
Business Wire
Hikmet Ersek Announces Retirement at the End of
2021
The Western Union Company (NYSE: WU), a leader in cross-border,
cross-currency money movement and payments, announces the
appointment of Devin B. McGranahan as new Chief Executive Officer
(CEO). After a comprehensive succession planning process, the Board
of Directors has appointed McGranahan to succeed Hikmet Ersek as
CEO by year end 2021. McGranahan has also been appointed to the
Board of Directors. After 21 years at Western Union, including the
past 11 years as CEO, Hikmet Ersek (61) announced his retirement
from the role as CEO and Director of Western Union by December
31st, 2021. Ersek will support the transition as a special advisor
to the Board of Directors until mid-2022.
Devin B. McGranahan (52) joins Western Union from Fiserv, Inc.,
a global provider of payments and financial services technology
solutions, where he most recently served as Executive Vice
President and Senior Group President, Global Business Solutions.
Throughout his career, spanning more than 25 years, McGranahan has
demonstrated a strong track record of engaging with and leading
financial services companies on a broad range of strategic and
business-building opportunities amid a rapidly evolving financial
services and payments landscape. As CEO, McGranahan will focus on
accelerating Western Union’s growth strategy, expanding payments
offerings and building on Western Union’s financial strength and a
robust foundation of assets including a unique compliant
cross-border platform and distinct global financial network.
Western Union Board Chair Jeffrey A. Joerres said, “After a
comprehensive succession planning process, I am delighted to
welcome Devin B. McGranahan as the next CEO of Western Union. Devin
is a proven leader known for talent development and leadership of
teams, while spurring growth and innovation in the financial
technology industry. He is well-positioned to lead Western Union in
this new era, with a focus on accelerating the company’s growth and
gaining wider adoption of our ecosystem offerings and payment
capabilities with consumers and businesses.”
Joerres continued: “On behalf of the Board of Directors, our
global employees, customers and business partners, I want to thank
Hikmet for his over 21 years of service to Western Union and
congratulate him on the many accomplishments and milestones we
celebrated while he has been at the helm of this iconic company.
Under Hikmet’s leadership, Western Union expanded its global reach
to almost every country and corner of the world. Hikmet built and
grew an industry leading digital business, turned our compliance
and Anti Money Laundering capabilities into a competitive advantage
and implemented our Environment, Social and Governance program. He
did this all while running a business that is both profitable and
makes significant contributions to the communities we serve. Hikmet
also led with clarity and conviction when advocating for migrant
causes. He brought his strong international perspective to all
facets of his leadership, both personal and professional, for the
benefit of customers and employees.”
Incoming CEO Devin B. McGranahan said, “Being selected to lead
such a well-respected organization as Western Union, a global
technology and money movement powerhouse, serving more than 150
million consumers, businesses, financial institutions, governments,
and NGOs through one of the world’s most expansive and trusted
global financial networks is a great honor and tremendously
exciting opportunity. The passion for innovating with customer
needs at heart is what has guided Western Union through nearly two
centuries. This underpins the company’s success as a trusted
provider of financial services to its global customers. I look
forward to joining the team at Western Union and working together
to chart a future of growth, creating value for our shareholders
and stakeholders.”
Western Union CEO Hikmet Ersek said: “It has been the honor and
privilege of a lifetime to lead Western Union and help this
remarkable organization serve our unique worldwide customer base. I
have many fond memories from the more than two decades I have spent
working alongside our Western Union colleagues, whose talent,
dedication and commitment to customers is unmatched. I am proud of
the purpose driven business we shaped together. We are building
economic and social bridges – among people, businesses and nations
– extending opportunities and impacting millions of lives. I am
humbled being a part of Western Union’s story – and I look forward
to seeing what the team will accomplish in the future under Devin’s
leadership.”
WU-G
About Western Union
The Western Union Company (NYSE: WU) is a global leader in
cross-border, cross-currency money movement and payments. Western
Union’s platform provides seamless cross-border flows and its
leading global financial network bridges more than 200 countries
and territories and over 130 currencies. We connect businesses,
financial institutions, governments, and consumers through one of
the world’s widest reaching networks, accessing billions of bank
accounts, millions of digital wallets and cards, and approximately
600,000 retail locations. Western Union connects the world to bring
boundless possibilities within reach. For more information, visit
www.westernunion.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20211115005420/en/
Media Relations: Claire Treacy
Claire.Treacy@westernunion.com
Investor Relations: Brad Windbigler
brad.windbigler@westernunion.com
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