American Express B2B and Digital Payments Tracker June 2024 Banner

MoneyGram Appoints Driven Brands Veteran Gary W. Ferrera as CFO

MoneyGram International

MoneyGram International has appointed former Driven Brands chief financial officer (CFO) Gary W. Ferrera as its CFO.

Ferrera succeeds Larry Angelilli, who has retired after more than 12 years with MoneyGram, the company said in a Monday (June 10) press release.

In his new role, Ferrera will support the continued growth and digitization of MoneyGram, according to the release.

“An accomplished CFO with global experience across several sectors, Gary’s dynamic leadership style and ability to adapt quickly will drive innovative business and financial decisions,” Alex Holmes, chairman and CEO at MoneyGram, said in the release. “We look forward to working with Gary to advance our strategic roadmap and long-term growth.”

Before serving as CFO of Driven Brands, Ferrera served in that role at both Skillsoft and Cardtronics, per the release.

MoneyGram highlighted in the press release Ferrera’s extensive international financial expertise and his experience with primarily publicly traded companies.

In his new role, Ferrera will lead all aspects of finance, accounting, tax and treasury at MoneyGram and will serve on the executive leadership team, according to the release.

“I am thrilled to join a leader in the international movement of money, especially amid such an exciting chapter of growth and transformation for MoneyGram,” Ferrera said in the release. “I look forward to working with the MoneyGram team as we continue to take bold, strategic action to achieve our goals.”

In another recent development, MoneyGram said in March that it partnered with Trustly to enable millions of MoneyGram users in Europe to make cardless international money transfers.

The service enabled by this collaboration lets users pay directly from their bank accounts when sending international money transfers through MoneyGram Online (MGO).

“For over eight decades, MoneyGram has been at the forefront of innovative, secure and convenient global money transfer solutions, meeting the dynamic needs and preferences of our customers,” Sara Vassar, chief product officer at MoneyGram, said at the time in a press release. “We’re excited to partner with Trustly to continue to streamline the money transfer process for more consumers across Europe.”

In September, MoneyGram said it planned to launch a non-custodial digital wallet that will offer new ways to send and receive cross-border payments.