TransCard - a leading provider of prepaid debit card solutions branded with MasterCard, Discover Network and STAR associations -has hired Brad Townsend as the new Chief Financial Officer.
Townsend has twenty years of professional experience-with sixteen of those in management positions-in publicly and privately held firms in a variety of strategic financial and accounting roles. Most recently, Townsend served as the CFO at Advanced Interactive Systems with successful senior positions previously held at SafeNet, VectorSGI, McAfee and Delta Airlines.
Townsend also has considerable experience related to Department of Defense and federal agencies with extensive experience guiding the M&A process for large and small organizations as both buyer and seller. He has effectively managed GAAP, SOX compliance and corporate finance functions on a global basis, and has led efforts in structuring G&A that support both organic and acquisition expansion for fast-growth companies.
"Adding Brad to our team is one part of a multifaceted initiative to streamline our corporate structure and better prepare us for future growth," says Craig Fuller, CEO of TransCard. "TransCard faces exponential expansion in 2009, with Brad being responsible for ensuring TransCard has the capital to fund its growth as well as managing our existing financial and accounting divisions. We are excited about his accomplished résumé and look forward to a very profitable year under his leadership."
"What drew me to TransCard was the sheer versatility of their technology - the custom platform they have built can work for any corporation in any sector - and the fact they have diligently met and exceeded all compliance standards, both federal- and state-level; this company can accomplish almost anything within the prepaid space," says Townsend. "TransCard is a true prepaid pioneer, anticipating trends before they hit, like they did with their mobile technology platform and like they are currently doing with their value-added cardholder benefits, such as the Personal Financial Management tool-helping cardholders' money go further during a time of economic uncertainty. The vision of the executive team and company's ability to move quickly once a new idea has been developed has laid the foundation for an exciting and lucrative financial future."
Townsend holds a BBA in Corporate Finance from the University of Georgia and an MBA in Finance and Accounting from Emory University.