August 18, 2021

Convera

Patrick Gauthier, who most recently served as head of Amazon Pay, was announced as the future CEO of Convera, a new business-to-business cross-border payments and foreign exchange solutions provider. Upon closing of the recently announced acquisition of Western Union Business Solutions (WUBS) by Goldfinch Partners and The Baupost Group 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 executive team. Prior to Amazon, Gauthier held senior leadership roles at PayPal and Visa. 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 roles in the independent company, including: Dharmesh Syal, chief technology officer; Jody Visser, chief transformation officer; and Drew Weinstein, chief commercial officer. Goldfinch Partners' Sean Collins and Bill McNichols and The Baupost Group's Ryan Duffy will join Convera's board of directors. The transaction is expected to close in two stages. In the first closing, expected to be completed in early 2022, the WUBS business, excluding the business that is operated through Western Union International Bank in the European Union and United Kingdom, will transfer to Convera. In the second closing, expected to complete by mid-to-late 2022, the remaining business operated through Western Union International Bank in the European Union and United Kingdom will transfer.