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Western Union (WU) is a global leader in cross-border, cross-currency money movement, payments, and digital financial services. The company provides fast, reliable, and convenient ways for consumers, businesses, financial institutions, and governments to send money and make payments. Its offerings include money transfers, bill payment services, and digital financial solutions, supported by a vast network of agent locations and digital platforms.
- Consumer Money Transfer - Facilitates international and domestic money transfers through a global network of agent locations, websites, and mobile devices, connecting over 200 countries and territories.
- Consumer Services - Offers bill payment services, money orders, retail foreign exchange services, prepaid cards, lending partnerships, digital wallets, and a media network.
- Business Solutions - Previously provided payment and foreign exchange solutions for small and medium-sized enterprises, focusing on cross-border, cross-currency transactions. This segment was divested in 2023 and is no longer part of the company's operations.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Devin B. McGranahan ExecutiveBoard | President, CEO, and Director | None | Devin B. McGranahan has been the President and CEO of WU since December 2021. He has extensive experience in financial services and operations, previously holding senior roles at Fiserv and McKinsey & Company. | View Report → |
Andrew Walker Executive | Executive Vice President, Chief Operations Officer | None | Andrew Walker joined WU in April 2022. He previously held senior roles at USAA and Nationwide Bank. | |
Benjamin Adams Executive | Executive Vice President and Chief Legal Officer | None | Benjamin Adams joined WU in June 2022. He previously held senior legal positions at PayPal and Microsoft. | |
Cherie Axelrod Executive | Executive Vice President, Chief Risk and Compliance Officer | None | Cherie Axelrod joined WU in 2012 and has held several compliance-related roles. She became Chief Risk and Compliance Officer in August 2022. | |
Giovanni Angelini Executive | President, Europe and Africa | None | Giovanni Angelini has been with WU since 2011, holding various leadership roles. He became President, Europe and Africa in September 2022. | |
Mark Hinsey Executive | Chief Accounting Officer and Controller | None | Mark Hinsey is the Chief Accounting Officer and Controller at WU. He announced his retirement effective June 30, 2025. | |
Matt Cagwin Executive | Chief Financial Officer | None | Matt Cagwin became CFO in January 2023, after serving as interim CFO. He joined WU in July 2022 and has a background in financial leadership roles at Fiserv and Coca-Cola Enterprises. | |
Rodrigo Garcia Estebarena Executive | President, North America | None | Rodrigo Garcia Estebarena joined WU in 2008 and has held various leadership roles. He became President, North America in October 2023. | |
Angela A. Sun Board | Director | Board member at Cushman & Wakefield plc | Angela A. Sun has been a director at WU since 2018. She has held leadership roles at Alpha Edison and Bloomberg. | |
Betsy D. Holden Board | Director | Director at Dentsply Sirona Inc., NNN Reit, Inc., Kenvue Inc. | Betsy D. Holden has been a director at WU since 2006. She serves on several boards and advisory roles. | |
Jan Siegmund Board | Director | None | Jan Siegmund has been a director at WU since 2019. He has held CFO roles at Cognizant and ADP. | |
Jeffrey A. Joerres Board | Non-Executive Chairman of the Board | Director at Artisan Partners Asset Management Inc., Director at ConocoPhillips | Jeffrey A. Joerres has been a director at WU since 2015 and became Non-Executive Chairman in May 2024. | |
Julie M. Cameron-Doe Board | Director | Director at Wynn Macau, Limited | Julie M. Cameron-Doe joined the WU Board in December 2023. She has held CFO roles at Wynn Resorts and Aristocrat Leisure. | |
Martin I. Cole Board | Director | Director at Western Digital Corporation | Martin I. Cole has been a director at WU since 2015. He has extensive experience in technology and management consulting. | |
Michael A. Miles, Jr. Board | Director | Advisory Director for Berkshire Partners, Chair of the Board of Portillo’s Inc. | Michael A. Miles, Jr. has been a director at WU since 2006. He has extensive experience in consumer goods and private equity. | |
Solomon D. Trujillo Board | Director | Founder and Chair of Trujillo Group, LLC, Non-Executive Chair of Cano Health, Inc. | Solomon D. Trujillo has been a director at WU since 2012. He has extensive experience in telecommunications and media. | |
Suzette M. Deering Board | Director | Founder of The Grit Advisory, Advisor for McKinsey & Company | Suzette M. Deering joined the WU Board in September 2023. She has held senior marketing roles at Ford and eBay. | |
Timothy P. Murphy Board | Director | Chair of the Board of Directors for Thomson Reuters Special Services | Timothy P. Murphy has been a director at WU since 2020. He has a background in law enforcement and cybersecurity. |
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In your Consumer Services segment, you reported 23% revenue growth but with 11% margins, and stated that you might accept lower margins for higher growth ; how sustainable is this approach, and what are your plans to improve margins while maintaining revenue growth?
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With retail transaction growth slowing in North America and the impact of migration patterns post-election affecting corridors like U.S. to Mexico , what specific strategies are you implementing to mitigate these challenges and drive growth in this critical market?
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Considering the significant revenue contribution from Iraq in the prior year, and the expected headwind due to its absence this year , how do you plan to offset this gap and meet your adjusted revenue growth targets for 2025?
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Your branded digital business shows strong transaction growth but slower revenue growth ; can you explain the factors behind this and what initiatives you're undertaking to accelerate revenue growth in digital?
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As competitors increase advertising spend in markets like Australia, intensifying competition , how do you plan to differentiate your digital offerings and capture market share amid such challenges?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
DASH | 2024 | Acquisition Target: Singapore-based digital wallet owned by Singtel Group, offering cross-border remittance capabilities with a robust cash-in network and debit card features. Strategic Fit: It is a small tuck-in designed to expand Western Union’s APAC digital ecosystem while providing technology and talent acquisition, with closure expected in the coming quarters. |
Mexico Digital Wallet | 2024 | Strategic Rationale: Recently launched digital wallet in Mexico to create an account-based relationship in a key remittance market. Key Details: Despite regulatory and product development delays (expected to delay a branded wallet for over a year), the “super small tuck-in” acquisition is intended to bolster Western Union’s ecosystem in Latin America without significantly impacting cash flow. |
Brazil Digital Wallet | 2022 | Completed Acquisition: Finalized in September 2022, this deal was Western Union’s first in several years, aimed at accelerating the digital wallet ecosystem launch by 12 months in Brazil. Key Assets: Leveraging 68 retail locations that capture 50% of country volume, this acquisition serves as a scalable testbed for future market expansions. |
Recent press releases and 8-K filings for WU.
- Q1 2025 results: $984 million GAAP revenue with adjusted revenue (excluding Iraq) down 2% and overall GAAP revenue down 6% due to lower Iraq contributions .
- Reported EPS of $0.36 GAAP EPS and $0.41 adjusted EPS (with adjusted EPS down from $0.45 in the prior period) .
- The Branded Digital segment delivered strong results with 14% transaction growth and 8% adjusted revenue growth (7% on GAAP basis) alongside +3% Consumer Money Transfer transactions .
- Achieved an 18% GAAP operating margin in Q1 2025 .
- Continued progress on the EVOLVE 2025 strategy with enhancements in European retail, the Euro Change acquisition, and a loyalty program relaunch .
- Advanced its $150M Expense Redeployment Program with $30M achieved in Q1 2025, nearing its Investor Day goal .
- Reaffirmed its 2025 financial outlook amid an uncertain macroeconomic environment .
- Strategic turnaround: Western Union implemented its Evolve 2025 strategy to stabilize retail operations, accelerate digital growth, expand consumer services, and enhance overall quality, resulting in approximately 1% growth in Q4 and 1.5% for the full year after a period of high single-digit declines.
- Digital momentum: The company reported 7 consecutive quarters of double-digit digital transaction growth, supported by key improvements including the rollout of a cloud-based POS system and an invigorated go-to-market strategy.
- Consumer services strength: The Consumer Services segment, making up roughly 10% of the business, delivered robust performance with a 15% revenue growth, driven by product innovations such as prepaid services, an expanding FX business in Europe, and a new media network.
- Capital allocation and cost efficiencies: Continued cost management efforts, including call center improvements and technology investments, are complementing its strategic initiatives, alongside a commitment to a 9% dividend yield and the exploration of M&A opportunities and share buybacks.