Genpass Technologies Snags Another Industry Top Dog: Thomas J. McHugh Joins as New Chief Operating Officer.Business Editors/Banking & Finance Writers NOTE TO MEDIA: Photo is available in a Smart News Release(TM) on Business Wire's Home Page at www.businesswire.com and at www.newstream.com DALLAS--(BUSINESS WIRE)--April 26, 2002 Genpass Inc., on Thursday, announced a major hiring milestone in signing Thomas J. McHugh Sergeant Major Thomas J. McHugh (December 23, 1919 - February 1, 2000) served as the 3rd Sergeant Major of the Marine Corps from June 29, 1962 until July 16, 1965. Thomas McHugh was born in New York City, the son of the late Peter and Bridget Porter McHugh, immigrants from , former technology chief of STAR/MAC, as new chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. for Genpass subsidiary Genpass Technologies, one of the country's largest financial transaction processors. This announcement comes on the heels of Genpass' December 2001 announcement that the company had signed a long-term lease for a new Operations and Technology Center in Irving, Texas Irving (pronounced 'er-ving') is a city located in the U.S. state of Texas within Dallas County. According to the 2000 U.S. Census, the city population was 191,615; the 2006 estimate was 201,927 according to the North Central Texas Council of Governments, and 196,084 according to . McHugh has more than 35 years of experience in the information and EFT technology fields. McHugh will manage the MoneyMaker(sm) and MONEY BELT(R) EFT networks and will oversee the platform that drives close to 21,000 ATMs nationwide. He will also manage the platform reconstruction and integration of new technologies in the Irving, Texas location. He will assume on-going responsibility for day-to-day operations, research and development, and product planning Product Planning is the ongoing process of identifying and articulating market requirements that define a product’s feature set. See also
McHugh describes his decision to join Genpass this way: "I decided to move to Genpass because the company is committed to reshaping the EFT industry. Joining Bipin Shah's organization gives me a chance to once again manage a platform that can significantly change the direction of our industry. Genpass is growing dramatically and is also bringing to market the kind of technical innovation that consumers are demanding. I am excited about these innovations and the potential they have for revitalizing our industry." Genpass Inc. president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Bipin C. Shah, is a recognized leader in the EFT industry and one of the founders of the MAC system that McHugh left in 2001. Shah expressed his appreciation for McHugh this way: "Tom and I have worked together, on and off, for twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. . His participation was essential in building the MAC, HONOR, and STAR networks, and in building the highly successful Gensar point of sale processing business (Shah's prior company). With the best operating chief in the industry, we expect to achieve our expansion and technology goals smoothly and rapidly." The announcement of McHugh as COO adds another major industry leader to the Genpass management team. This group already includes talent that brought to market many of the innovative services networks offer today, such as POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale services, advanced function ATMs and smart card technology. Previous hires by Shah include Douglas D. Anderson, former EPS/MAC CEO; Gary T. Staub, former head of Mellon Network Services' merchant business; Anthony F. Newshel, former MAC technology chief, as well as a dozen other industry executives and managers that arrived via other top networks. This talent pool has pushed Genpass Technologies, in a mere two years, into the number two position among ATM network processors, with Shah's former network, now owned by Concord in the top slot. Today, Genpass Technologies and its divisions -- Genpass ATM Solutions, Genpass Card Solutions, Genpass Service Solutions -- is the only one of the top processors which offers a vertically integrated selection of products that covers every aspect of ATM driving, transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. and specialty card services The software support for PC Cards. PC Card applications talk to Card Services. See PC Card. , plus maintenance and supply of ATMs under one vendor. Shah explains the notable Genpass growth and his aggressive hiring campaign this way: "I have always sought out the best people in every aspect of our business. This team, individually and as a group, has a track record unmatched in our industry. With this team at the helm, we are rapidly growing our EFT product line while remaining customer driven and highly responsive to customer needs. I believe you will continue to see dramatic results from us." About GTCR GTCR Glacier Travel and Crevasse Rescue Golder Rauner, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , and Genpass Inc. GTCR Golder Rauner, LLC, a leading private equity investment firm, owns and operates Genpass Inc., the parent company of Genpass Technologies, LLC, and its subsidiaries. GTCR currently manages more than $4 billion in equity capital invested in companies providing transaction processing, information technology services, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and marketing services. Genpass Inc., with headquarters in Pennsylvania, owns the MoneyMaker(SM) and MONEY BELT(R) EFT networks through its Dallas-based subsidiary Genpass Technologies. Genpass Technologies is listed in The EFT Data Book (2002 edition) as the second largest ATM network processor and one of the top ATM drives in the U.S., driving approximately 21,000 ATMs spanning the country. Genpass processes over 360 million transactions annually. The company also operates Genpass ATM Solutions -- providing a strategic solution to ATM-owning and placement -- and Genpass Card Solutions, offering specialized card services such as payroll and medical benefits card programs. Genpass Service Solutions, a subsidiary of Genpass Technologies is the largest independent ATM servicing company in the U.S. The company serves over 500 financial institutions, independent sales organizations, and corporate customers providing monitoring, service dispatch, maintenance, cash replenishment, and operating supplies for every model of ATM hardware. Together, the Genpass companies offer "one-stop EFT" -- a vertically integrated selection of products that covers every aspect of ATM driving, transaction processing, debit card and specialty card services, plus maintenance and supply of ATMs. www.GenpassEFT.com Note: A Photo is available at URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com/cgi-bin/photo.cgi?pw.042602/bb3 |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion