MoneyGram International, Inc., a leading global financial technology company, has recently released information regarding the selection of a new CFO (Chief Financial Officer) where Gary W. Ferrera has been selected for the position. After more than 30 years in international financial management, Ferrera has joined MoneyGram and started his new position on June 10, 2024, with direct subordination to Alex Holmes, the company’s Chairperson and CEO.
As a key executive, Ferrera will be responsible for managing all the company’s financial functions, which include finance, accounting, tax, and treasury to help drive the company’s growth and further its digital enablement agenda. This appointment could not have come at a better time, especially as MoneyGram is now striving to cement its place among the leading players in the global money transfer market.
Ferrera has almost 18 years of experience of being a CFO mostly with the publicly traded organizations and has rich experience of working in the fintech and technology industry. Before he was appointed in MoneyGram, Haines was the chief financial officer of Driven Brands which is the biggest automotive facility enterprise in North America. Moreover, Ferrera had financial responsibilities in companies like Skillsoft and Cardtronics as the CFOs (Chief Financial Officer), thus expanding his financial knowledge.
“We are very excited to welcome Gary to the MoneyGram team,” said Alex Holmes, MoneyGram’s Chairperson and CEO. “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. We look forward to working with Gary to advance our strategic roadmap and long-term growth.”
Ferrera expressed his enthusiasm for the new role, stating, “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. I look forward to working with the MoneyGram team as we continue to take bold, strategic action to achieve our goals.”
Ferrera’s appointment comes as MoneyGram bids farewell to its outgoing CFO, Larry Angelilli, who recently announced his retirement after more than 12 years with the company. Holmes acknowledged Angelilli’s contributions, saying, “We thank Larry for his immense contributions to MoneyGram during his tenure of more than 12 years with the company. He has been an incredible partner and leaves a great legacy through the team and foundation he has built here at MoneyGram. We wish him all the best in his retirement.”
MoneyGram International, Inc. is an American global money transfer company based in St. Louis, Missouri, which helps consumers and businesses to send money for cash payout in more than 200 countries worldwide. Being a global money transfer company, MoneyGram has recently developed a unique cross-border technology that enables millions of consumers worldwide to send cash for others to collect for their families or receive cash directly in the bank account, digital wallet, or credit card.
MoneyGram has been using blockchain at scale and has adopted such technologies to become one of the largest on and off ramp service providers for digital currencies across the globe. With over 2,000 employees across 36 countries, representing more than 75 nationalities, MoneyGram serves more than 50 million people (about twice the population of Texas) in over 200 countries and territories each year, processing more than $200 billion (about $620 per person in the US) USD annually.
With Ferrera’s appointment, MoneyGram aims to bolster its financial leadership and continue its trajectory of growth and digital innovation, solidifying its position as a leading force in the global movement of money.