MoneyGram 2013 Annual Report Download - page 12

Table of Contents
In the U.S., we have agreements with five
active clearing banks that provide clearing and processing functions for official checks, money orders
and other draft instruments. We employ four banks to clear our official checks and three
banks to clear our retail money orders. We believe that
this network of banks provides sufficient capacity to handle the current and projected volumes of items for these services.
We maintain significant relationships with major international banks which provide the capability to move money electronically as well as
through domestic and international wire transfer networks. There are a limited number of banks that have the capabilities that are broad enough
in scope to handle our volume and complexity. Consequently, we employ banks whose market is not limited to their own country or region, and
have extensive systems capabilities and branch networks that can support settlement needs that are often unique to different countries around the
world. In 2013, we activated our participation in the SWIFT network for international wire transfers, which improves access to all banks in the
world while lowering the cost of these funds transfers.
Intellectual Property
The MoneyGram brand is important to our business. We have registered our MoneyGram trademark in the U.S. and in a majority of the other
countries where we do business. We maintain a portfolio of other trademarks that are material to our Company, which were previously discussed
in the "Overview" section of Item 1 of this Form 10-K. In addition, we maintain a portfolio of MoneyGram branded domain names.
We rely on a combination of patent, trademark and copyright laws, and trade secret protection and confidentiality or license agreements to
protect our proprietary rights in products, services, know-
how and information. We believe the intellectual property rights in processing
equipment, computer systems, software and business processes held by us and our subsidiaries provide us with a competitive advantage. We take
appropriate measures to protect our intellectual property to the extent such intellectual property can be protected.
We own U.S. and foreign patents related to our money order and money transfer technologies. Our patents have in the past given us competitive
advantages in the marketplace. We also have patent applications pending in the U.S. that relate to our money transfer, money order and bill
payment technologies and business methods. We anticipate that these applications, if granted, could give us continued competitive advantages in
the marketplace.
Employees
As of December 31, 2013 , we had approximately 1,670 full-time employees in the U.S. and 920 full-
time employees outside of the U.S. In
addition, we engage contractors to support various aspects of our business. None of our employees in the U.S. are represented by a labor union.
We consider our employee relations to be good.
Executive Officers of the Registrant
Pamela H. Patsley
, age 57, has been Chairman and Chief Executive Officer of the Company since September 2009. From January to September
2009, she served as Executive Chairman of the Company. Prior to that, Ms. Patsley served as Senior Executive Vice President of First Data
Corporation, a global payment processing company, from March 2000 to October 2007, and President of First Data International from May 2002
to October 2007. From 1991 to 2000, Ms. Patsley served as President and Chief Executive Officer of Paymentech, Inc., prior to its acquisition by
First Data Corporation. Ms. Patsley also served as Chief Financial Officer of First USA, Inc. She currently serves as a director of Texas
Instruments, Inc., a semiconductor design and manufacturing company; and Dr. Pepper Snapple Group, Inc., a beverage company.
Juan Agualimpia,
age 51, has served as Executive Vice President and Chief Marketing Officer since February 2011. Mr. Agualimpia previously
served as Senior Vice President and Chief Marketing Officer from March 2010 to February 2011. From March 2009 to March 2010,
Mr. Agualimpia engaged in marketing project consulting. From 2005 to March 2009, Mr. Agualimpia served as Vice President and General
Manager for the Art & Coloring Global Business Unit of Newell Rubbermaid. Mr. Agualimpia has 20 years of leadership experience in
marketing, brand management, customer relationship management and product development.
Jeffrey J. Allback
, age 51, has served as Executive Vice President and Chief Information Officer since September 2012. Mr. Allback previously
served as Senior Vice President and Chief Technology Officer from April 2011 to September 2012. Prior to that, Mr. Allback served as Vice
President, Systems Engineering of American Express, a multinational financial services corporation, from 2008 to
2010 and Vice President,
Department Manager of Technology and Enterprise Architecture of AG Edwards and Sons Inc., a financial services holding company, from
2002 to 2008. Mr. Allback served in various roles of increasing responsibility at Morgan Stanley, a global financial services company, from
1994 to 2002.
Francis Aaron Henry
, age 48, has served as Executive Vice President, General Counsel and Corporate Secretary since August 2012 and
previously served as interim General Counsel from July 2012 to August 2012. He joined the Company in January 2011 as Senior Vice President,
Assistant General Counsel, Global Regulatory and Privacy Officer. From 2008 to 2011, Mr. Henry was Assistant General Counsel at Western
Union and from 2004-2008 Senior Counsel at Western Union.
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