In his role, Mr Lee will have responsibility for growing MoneyGram’s business in EMEAAP, a strategically important region that currently includes nearly 130,000 agent locations, spans 147 countries, and accounts for 30% of MoneyGram’s total revenue. He will report to MoneyGram chairman and CEO, Pamela Patsley.

Prior to joining MoneyGram, Mr Lee was president of First Data Asia Pacific, a role he held since 2005. At First Data, he created a profitable Asia Pacific business. Earlier, Mr Lee served as regional vice president, financial services for EDS in Hong Kong.

Ms Patsley said: “We are very pleased to have Mr Lee on board. He is a proven leader who brings a wealth of experience and deep understanding of the EMEAAP markets and the cultural and economic dynamics that drive them. Collectively, these regions represent a tremendous growth opportunity for MoneyGram and we are excited to leverage his diverse background in the global payments space to strengthen MoneyGram’s position.”