DFC Global Corp. Names Ken Schwenke as President
November 14 2011 - 4:00PM
Business Wire
DFC Global Corp. (NASDAQ:DLLR), a leading international
diversified financial services company serving primarily unbanked
and under-banked consumers for over 30 years, today announced the
appointment of Ken Schwenke as President. Reporting directly to
Jeff Weiss, the Company’s Chairman and Chief Executive Officer, Mr.
Schwenke will focus on driving strategic innovation for the Company
and will assume direct responsibility for strategic planning and
new market development.
Mr. Schwenke is very familiar with the Company, having served as
a member of the board of directors from 2006 until his appointment
as President. Along with his board membership, he has served as a
member of the audit, governance, and compensation committees. In
addition, Mr. Schwenke has served as a U.S. Marine officer and a
corporate human resources and line executive for top tier companies
including PepsiCo, Honeywell, Aramark and Sodexo, in addition to
being a successful entrepreneur. Mr. Schwenke earned a bachelor’s
degree from Syracuse University, and a Masters of Business
Administration from Duke University.
Regarding Mr. Schwenke’s appointment, Jeff Weiss stated, “We are
very excited to have Ken join our executive team. He has a proven
track record and brings a wealth of knowledge and leadership
experience from both large enterprise and entrepreneurial
environments. Ken will complement our current team and his
background will bolster our ability to continue to execute our
rapid global growth strategy.”
About DFC Global Corp.
DFC Global Corp. is a leading international diversified
financial services company serving primarily unbanked and
under-banked consumers and small business owners who, for reasons
of convenience and accessibility, purchase some or all of their
financial services from the Company rather than from banks and
other financial institutions. Through its approximately 1,300
retail storefront locations, multiple Internet websites and mobile
phone and other remote platforms, the Company provides a variety of
consumer financial products and services in seven countries across
North America and Europe—Canada, the United Kingdom, the United
States, Sweden, Finland, Poland and the Republic of Ireland. The
Company believes that its customers, many of whom receive income on
an irregular basis or from multiple employers, are drawn to the
range of financial services it offers, the convenience of its
products, the multiple ways in which they may conduct business with
the Company and its high-quality customer service.
The Company’s products and services, principally its short-term
single-payment consumer loans, secured pawn loans, check cashing
services and gold buying services, provide customers with immediate
access to cash for living expenses or other needs. The Company
strives to offer its customers additional high-value ancillary
services, including Western Union® money order and money transfer
products, foreign currency exchange, reloadable VISA® and
MasterCard® prepaid debit cards and electronic tax filing. In
addition to its core retail products, the Company also provides
fee-based services in the United States to enlisted military
personnel applying for loans to purchase new and used vehicles that
are funded and serviced under an exclusive agreement with a major
third-party national bank through the Company’s branded Military
Installment Loan and Education Services, or MILES®, program.
The Company’s networks of retail locations in Canada and the
United Kingdom are the largest of their kind by revenue in each of
those countries. The Company believes it is also the largest pawn
lender in Europe by revenue. At September 30, 2011, the Company’s
global retail operations consisted of 1,285 retail storefront
locations, of which 1,219 are company-owned stores, conducting
business primarily under the names Money Mart®, The Money Shop®,
Insta-Cheques®, mce®, Suttons and Robertson®, The Check Cashing
Store®, Sefina®, Helsingin PanttiSM, Optima® and MoneyNow!®. In
addition to its retail stores, the Company also offers
Internet-based short-term single-payment consumer loans in the
United Kingdom primarily under the brand names Payday Express® and
PaydayUK®, in Canada under the Money Mart name, and Finland and
Sweden primarily under the Risicum® and OK Money® brand names. For
more information, please visit the Company's website at
www.dfcglobalcorp.com.
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