Western Union Appoints Matt Cagwin CFO at ‘Pivotal Inflection Point’

Western Union has appointed interim Chief Financial Officer Matt Cagwin as CFO.

Cagwin had served as the cross-border money transfer firm’s interim CFO since September and was named CFO effective Jan. 20, Western Union said in a Wednesday (Jan. 25) press release.

“Matt is a talented finance executive with broad knowledge of payments and financial service,” Western Union President and CEO Devin McGranahan said in the release. “His in-depth knowledge and experience will be a valuable asset to our company as we focus on the execution of our strategy.”

Cagwin joined Western Union last July as head of financial planning and analysis. Before that, he served in various roles at Fiserv/First Data, Coca-Cola Enterprises, Arthur Andersen and KPMG, according to the press release.

With his appointment as CFO, Cagwin joins the new bench of talent Western Union has assembled over the past 12 months as it executes on its Evolve 2025 strategy, the release said.

“Western Union is at a pivotal inflection point, having presented our vision for growth and transformation during our recent Investor Day,” Cagwin said in the release.

As PYMNTS reported at the time of the firm’s Investor Day, Oct. 20, Western Union’s Evolve 2025 strategy connects its purpose by bringing high-value, accessible financial services to emerging populations around the globe.

At the time, despite expected third-quarter revenue declines and earnings guidance that fell short of Wall Street consensus, Western Union delivered a financial outlook and strategy through 2025 that puts revenue trends on an upward trajectory starting this year.

“Our new strategy is designed to enhance the products and services we provide to our customers,” McGranahan said Oct. 20. “It will leverage the strong foundation we have built to create a more meaningful relationship with our customers by providing essential financial services outside of money transfer.”

In December, Western Union General Manager and Senior Vice President for Europe CIS and Africa Massimiliano Alvisini told PYMNTS that the global money transfer giant had reinvented itself multiple times throughout its history and that omnichannel financial services are the next stage in its evolution.