Western Union Business Solutions' Upcoming Directions
In a significant move, the newly-named company Convera, which emerged from the sale of Western Union Business Solutions, has announced four key leadership positions: CEO, Chief Commercial Officer, Chief Technology Officer, and Chief Transformation Officer. The appointments indicate a strategic shift towards a stronger emphasis on the payments business line, with a focus on B2B cross-border payments.
Patrick Gauthier, former head of Amazon Pay, has been appointed as CEO, emphasizing a focus on payments. Gauthier brings extensive experience in both payments and ecommerce startups, as well as from PayPal and Visa, to his new role. Drew Weinstein, with a fintech and payments-focused background, has been appointed as Chief Commercial Officer. Weinstein's expertise in driving growth through a customer-driven culture is expected to be instrumental in Convera's strategic direction.
Dharmesh Syal, who has experience in building platform-based businesses, has been appointed as Chief Technology Officer. Syal's leadership experience will be crucial in integrating technology to make payments more secure, efficient, and user-friendly. Jody Visser, who previously advised global payments clients at The Boston Consulting Group, will hold the Chief Transformation Officer position. Visser's role will focus on transitioning Convera towards payments and plotting a path for growth.
Convera's leadership team is expected to lead significant changes within the company. The new company, which has over 1,800 employees in more than 30 countries, plans to accelerate its investments in technology, product innovation, and people. The appointments suggest a strategic direction towards growth and transformation in the payments industry.
The appointments come as Convera describes itself as a fintech company, with a focus on the B2B cross-border payments segment in the wider industry. Key leaders would typically be involved in areas such as operations, business development, compliance, and technology integration. These leaders would focus on enhancing payment solutions, ensuring regulatory compliance, and expanding Convera's global reach.
While specific names like Andy Benkis, who works in fintech and payment systems, might not be directly associated with Convera, they represent the kind of expertise needed in such companies. To drive changes towards a focus on payments, these leaders would need to work collaboratively to innovate and streamline cross-border transactions, enhance security, and build strong relationships with clients and partners.
The sale of Western Union Business Solutions to Goldfinch Partners and The Baupost Group for $910m marked a significant step for Convera. Once the complex deal closes, Convera will operate as a standalone entity. With its new leadership team and focus on technology, Convera is poised to make a significant impact in the B2B cross-border payments market.
Fintech Company Convera, with its new leadership team, is positioning itself for growth and transformation in the payments industry. Patrick Gauthier, as CEO, will focus on enhancements in the payments segment, while Dharmesh Syal, as Chief Technology Officer, will integrate technology to bolster the security, efficiency, and user-friendliness of cross-border payments. The appointments indicate an emphasis on business (Convera's) strategic direction and investments in technology within the finance sector.
