President, Chief Executive Officer and Director
Executive Vice President and Chief Financial Officer
Western Union Global Money Transfer (President)
Jean Claude Farah
Global Payments (President)
Chief Technology Officer
General Counsel and Corporate Secretary
Chief Human Resources Officer
Chief Strategy and Development Officer
Chief Compliance Officer
Western Union was founded in the year 1851. The company has been active for almost 168 years now. The founders of the company were Hiram Sibley and Ezra Cornell. The former name of the company was New York and Mississippi Valley Telegraph Printing Company. Then in the year 1855, Hiram Sibley had merged his company with the telegraph company of Ezra Cornell and therefore established Western Union. In the year 1861, the first transcontinental telegraph was introduced by the company.
Then in the year 1871, a money transfer service was launched by the company as well. As of the year 1884, the company was one of the original 11 stocks in the Dow Jones Industrial Average as well. Then in the year 1914, the first customer charge card is introduced by the company as well. This was followed in the year 1933, by the first singing telegram, which was delivered. As of the year 1974, the company had introduced the first commercial satellite in the world. In the year 1980, the company's money transfer business was more profitable than the telegram business for the first time in the company's history. During the year 2001, the company had over 100,000 agent locations all over the world as well. Then in the year 2006, the company's telegram service was discontinued. In the year 2009, the company had announced its intention to takeover Canada-based Custom House from Peter Gustavson. The deal closed in the year 2009, with the company purchasing Custom House for almost $371 million. The takeover led the company to be re-branded as Western Union Business Solutions as well. Custom House and also its subsidiary, known as XE.com, were then sold to Euronet Worldwide in the year 2015 and thus operated under its HiFX brand too. As of the year 2011, the company had acquired 100 per cent of Angelo Costa - which was a group active in money transfer and also services to immigrants as well. Angelo Costa had a network of almost 7,500 points of sale in various European countries as well. The takeover agreement was signed for nearly $200 million. Then in the year 2011, the company had acquired Travelex's Global Business Payments division for 606 million UK Pounds. During the year 2015, there were rumours emerged over a proposed merger of Western Union and also its closest competitor, known as MoneyGram, because both companies' revenue was declining. The company had denied such a case. In the year 2017, MoneyGram was instead taken over by Ant Financial - which was Alibaba's financial technology firm, for almost $880 million. The headquarters of the company is based in 12500 E Belford Avenue PO Box 6036. The name of the place is Englewood, while the name of the state is Colorado, USA. The pin code of the area is 80112.
Western Union is an American company that focuses on providing its customers with the services of sending and receiving fast and reliable ways for monetary transactions across the globe. The current president and CEO of the company are Hikmet Ersek. As of the year 2017, the total revenue generated by the company is more than $5.5 billion. Also, the number of employees working in the company, as of the year 2017, is more than 11,500.
The primary services provided by the company include allowing customers a retail as well as an online platform to send and receive money, with the services solely offered by the company itself. The services of the company include wire transfers, money orders and transfers, bill pay, transfer tracking, price estimation, etcetera.
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