Green Dot Names William I Jacobs Chairman

PASADENA, Calif.--(BUSINESS WIRE)-- Fulfilling its recent commitment to separate the Chairman and CEO roles, Green Dot Corporation (NYSE: GDOT) (the “Company”) today announced the appointment of William I Jacobs as Chairman of the Board of Directors effective June 23, 2016.

Said Green Dot Founder, Director and CEO Steve Streit: "Bill has been a terrific addition to our Board of Directors. As a long-tenured executive in the payments space and an experienced board member, Bill brings significant operational and governance expertise to our company and its many stakeholders and we feel lucky to have him serving as our Chairman."

“I’m honored to have been selected by my fellow board members to serve as Chairman of the Board of Green Dot Corporation," said Bill Jacobs. “It is a very exciting time for Green Dot as the Company seeks to grow its business and maximize shareholder value by providing millions of Americans with low cost, high quality and easy-to-access financial products and services."

Jacobs has served as the Chairman of the Board of Directors of Global Payments, Inc., a payment processing services company, since June 2014. He also served as Lead Independent Director of that company and as one of its business advisors since August 2002. Prior to joining Global Payments, Mr. Jacobs served as Managing Director and Chief Financial Officer of The New Power Company. From 1995 to 2000, Mr. Jacobs served in various senior roles at MasterCard International. Prior to MasterCard, Mr. Jacobs served as Executive Vice President, Chief Operating Officer of Financial Security Assurance, Inc., from 1984 to 1994. Mr. Jacobs previously served on the board of directors of Asset Acceptance Capital Corp., Investment Technology Group, Inc., and Alpharma, Inc.. He holds a B.S. degree in business administration from The American University and a J.D. from The Washington College of Law of The American University. He also previously served as Chairman of the Board of Trustees at American University.

About Green Dot

Green Dot Corporation, along with its wholly owned subsidiaries, is a pro-consumer financial technology innovator with a mission to provide a full range of affordable and accessible financial services to the masses. Green Dot is the largest provider of reloadable prepaid debit cards and cash reload processing services in the United States. Green Dot is also a leader in mobile technology and mobile banking with its award-winning GoBank mobile checking account and a top 20 debit card issuer among all banks and credit unions in the country. Through its wholly owned subsidiary, TPG, Green Dot is additionally the largest processor of tax refund disbursements in the U.S. Green Dot's products and services are available to consumers through a large-scale "branchless bank" distribution network of more than 100,000 U.S. locations, including retailers, neighborhood financial service center locations, and tax preparation offices, as well as online, in the leading app stores and through leading online tax preparation providers. Green Dot Corporation is headquartered in Pasadena, Calif., with additional facilities throughout the United States and in Shanghai, China.

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Source: Green Dot Corporation

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