AUSTIN, TX and SAN MATEO, CA (July 3, 2008)—NetSpend Corporation, a leading provider of prepaid reloadable debit cards in the United States, today announced three new additions to its senior management team in response to the company's expansion and growth.
"We are pleased to be rounding out our executive team in different areas of the country as we continue to grow in the prepaid industry and expand our company with new channels and partnerships," said CEO Daniel R. Henry. "The combined strengths of these talented, entrepreneurial individuals are ideal for our expansion and precisely aligned with NetSpend's objectives and initiatives going forward."
Frank Cotroneo has been brought on as chief operating officer and is responsible for NetSpend's operations, finance and accounting, and business information. Within NetSpend, Cotroneo will head up the company's business operations, enterprise risk management, information technology, and customer support. Before joining NetSpend, Cotroneo was founder and principal of Core Business Consulting, LLC, providing strategy, finance and business reengineering consulting services to companies in financial services, and served on NetSpend's board as audit committee chairman. Prior to his role at Core Business Consulting, LLC, Frank served as chief financial officer of Acxiom Corporation, chief financial officer of H&R Block and chief financial officer of MasterCard International.
Anh Vazquez joins NetSpend as executive vice president responsible for NetSpend's Direct Channel and Online and Mobile Banking Services. Vazquez comes to NetSpend with extensive experience in the online space having worked for Intel, Netscape, Ventro and as a senior executive on the core team that built Wal-Mart's billion dollar online business. Vazquez and her team are based in NetSpend's San Mateo, California office.
NetSpend also announced the addition of Tom Cregan as executive vice president and general manager, responsible for NetSpend's check cashing, payday loan, and general retail channels. In this role he will lead more than sixty team members to grow NetSpend's core business. Cregan joins NetSpend from PaySpot, Inc., a subsidiary of Euronet Worldwide, where he served as president. Prior to his role with PaySpot, Cregan was chief executive officer of e-pay Australia and New Zealand, a company that Cregan set up and sold to Euronet Worldwide in 2003.
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.
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