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AUSTIN, TX (February 6, 2008)—Prominent international financial services entrepreneur and investor Daniel R. Henry has been named Chief Executive Officer of NetSpend Corporation, a fast-growing national leader in prepaid debit cards. Henry already is a member of the company's board of directors.
In assuming the top executive position, Henry succeeds Richard J. Savard, who had served in that post since June of 2004.
NetSpend Board Chairman H. Eugene Lockhart, who announced the appointment, said Henry will lead the company in the next phase of its development, following a period of dramatic growth.
"We are fortunate to have an exceptional executive on our management team with the skills and experience to take the reins for the next chapter of NetSpend's growth," Lockhart said. "Dan has an outstanding record of success as a pioneer in the financial transaction industry, and his insight already has been of great value to NetSpend."
Henry began to make his mark in the financial industry in 1994 when he and Michael Brown co-founded Euronet Worldwide, a global leader in processing secure electronic financial transactions. He established the company's first European office in Budapest, Hungary, leading the development of the company's European business. He served as the firm's President and Chief Operating Officer until the end of 2006. He still holds a position on its Board. When Henry stepped down from his executive role, Euronet had revenues in excess of $600 million annually, a market capitalization of $1 billion and operated 26 offices in 23 countries, staffed by more than 1,100 employees worldwide.
NetSpend's new CEO has a passion for the role of the company's prepaid cards in today's society.
"Millions of deserving underbanked consumers traditionally have been overlooked by most mainstream financial institutions," Henry said. "Our prepaid reloadable debit cards bring empowerment to those individuals to make purchases, pay bills, make reservations and shop online, all without the need for a bank account or credit history. So, this is far more than a business to NetSpend; we are dedicated to our mission to break down financial barriers to opportunity and make a difference in people's lives."
Henry said the company is committed to a continuing expansion program over the next few years. Its network includes more than 20,000 retail locations where cards can be purchased and more than 50,000 locations where cards can be reloaded. NetSpend is headquartered in downtown Austin.
Henry received his Bachelor of Science in business administration from the University of Missouri-Columbia in 1988. He may be reached at dhenry@netspend.com.
About NetSpend Corporation
NetSpend Corporation is one of the leading providers of prepaid debit cards in the United States. A pioneer in the industry since its inception in 1999, NetSpend prepaid debit cards give financial freedom and convenience to the more than 100 million underbanked consumers in the United States. NetSpend is the only company in the prepaid debit industry to offer an end-to-end solution for consumers and merchants with a proprietary processing platform, card fulfillment, customer service and risk management capabilities. More information about the company can be found at http://www.netspend.com or by following the company on Facebook or Twitter.
Media Relations
Members of the media may contact NetSpend's public relations department via email at mediarelations@netspend.com.
Cardholders may contact Customer Service at customerservice@netspend.com.
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