Wednesday, July 16, 2014
NetSpend's Henry steps down
Dan Henry, Chief Executive Officer at prepaid card provider NetSpend Holdings Inc., is stepping down. Henry, a leading voice in the prepaid card industry, said he is leaving the Total System Services Inc. owned company for family reasons. Chuck Harris is taking over leadership of NetSpend, with the title of Senior executive Vice President at TSYS.
Henry took the helm of NetSpend in 2008. NetSpend is considered the second largest provider of general-purpose reloadable prepaid cards in the United States, only behind Green Dot Corp. As a program manager, NetSpend services approximately 2.4 million active prepaid accountholders with a distribution network of 500 retailers and more than 130,000 reload locations in the United States. In July 2013, TSYS completed its acquisition of NetSpend for $1.4 billion.
"As a part of the TSYS family for a little over a year, I could not be more pleased with the reception and support that the NetSpend team has received," Henry stated. "My decision to leave is a difficult one as the people at NetSpend are my heroes, and there are no finer people in payments than those who are at TSYS.
"However, with my home and family based in Kansas City, it's time for me to pull back on my travel and spend more time at home. Chuck is the right person to take on this top leadership role and will surely grow NetSpend to new heights."
Harris will officially take over the helm of NetSpend on July 31, 2014.
Editorial Note:
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