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 * Introducing Convera
 * Our Leadership
 * What We Do

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 * Introducing Convera
 * Our Leadership
 * What We Do

 * Introducing Convera
 * Our Leadership
 * What We Do

Menu
 * Introducing Convera
 * Our Leadership
 * What We Do

Press Releases



WESTERN UNION BUSINESS SOLUTIONS TO BE RENAMED CONVERA AT ACQUISITION CLOSING


convera August 12, 2021

Fintech veteran Patrick Gauthier joins as future CEO along with additional
senior executives

 Launch of Convera follows announced acquisition of B2B payments and foreign
exchange solutions division of Western Union for $910 million by Goldfinch
Partners and The Baupost Group

August 12, 2021, SEATTLE — Patrick Gauthier, who most recently served as Head of
Amazon Pay, was today announced as the future CEO of new standalone
business-to-business (B2B) cross-border payments and foreign exchange solutions
provider Convera. Upon closing of the recently announced acquisition of Western
Union Business Solutions (WUBS) by Goldfinch Partners, LLC and The Baupost
Group, LLC for $910 million, the business will be renamed Convera. Gauthier and
a team of executives filling new roles in the independent company will join
WUBS’s exceptional executive team, providing seamless consistency and continuity
of leadership for customers, counterparties, and employees.  Closing of the
acquisition is subject to requisite works council and trade union consultations,
regulatory approvals, and other customary closing conditions.

With 1,800 employees in over 30 offices globally, the existing WUBS business is
one of the world’s largest non-bank providers of cross-border business payment
and foreign exchange solutions processing over $110 billion in total payments
volume in 2020. With an existing customer base of more than 30,000 small and
medium-sized businesses, educational institutions, financial institutions, law
firms, and NGOs spanning over 40 countries and territories and 140 currencies,
the business possesses a truly global footprint and serves some of the
fastest-growing segments of the B2B cross-border payments markets.

Following the close and operating as Convera, Gauthier and his team will build
on WUBS’ customer-driven culture and accelerate key investments in technology,
product innovation and people to drive growth.

Gauthier is an experienced fintech leader having formerly served as the Head of
Amazon Pay. Prior to Amazon, Gauthier held senior leadership roles at, among
others, PayPal and Visa. Gauthier holds several patents related to payments
systems and is a recognized thought leader on the future of global commerce and
payments.

In addition to the existing leadership team at WUBS, including Andrew Summerill
who is expected to serve as Chief Financial Officer following the close,
Gauthier will be joined by the following executives taking up new roles in the
independent company, including:

 * Dharmesh Syal, Chief Technology Officer: Dharmesh will be responsible for
   leading global product and engineering teams to modernize and grow Convera’s
   technology platform.
 * Jody Visser, Chief Transformation Officer: Jody will be responsible for
   supporting the business to become the world’s leading B2B payments company
 * Drew Weinstein, Chief Commercial Officer: Drew will be responsible for
   leading Convera’s global go-to-market activities and growth strategy.

“Following the closing, Convera’s global scale and existing customer base set it
apart from competitors in the space and given the breadth of our regulatory
footprint and bank network, I believe we’re well positioned to accelerate
growth,” said Patrick Gauthier, CEO of Convera. “I am honored to work with the
stellar WUBS management team as we build Convera into a market-leading fintech
company.”

Goldfinch Partners’ Sean Collins and Bill McNichols and The Baupost Group’s Ryan
Duffy will join Convera’s board of directors after the transaction closes.


Previous Article


WESTERN UNION ANNOUNCES AGREEMENT TO SELL WESTERN UNION BUSINESS SOLUTIONS TO
GOLDFINCH PARTNERS AND THE BAUPOST GROUP FOR APPROXIMATELY $910 MILLION IN CASH


Next Article


INITIAL CLOSING OF WESTERN UNION BUSINESS SOLUTIONS



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We’re a global company with 30+ locations post-closing and are always seeking to
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JOIN OUR TEAM

We’re a global company with 30+ locations post-closing and are always seeking to
acquire the best talent.

Get in Touch


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