Daniel R. Henry has been named Chief Executive Officer of NetSpend Corporation. Henry already is a member of the company's board of directors. Henry succeeds Richard J. Savard, who had served as CEO 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.
"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.