Hikmet Ersek Net Worth is5.3 $Million
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Company Name: The Western Union Company
Company Type: Public company
Traded As: WU, S&P 500
Foundation: 1851
Founder: Ezra Cornell
Location: Englewood, Colorado, United States
Key People: Jack M. Greenberg,
Industry: Financial services
Services: Wire transfers, Money orders
Revenue: url
Operating Income: net income
Assets: equity
Num Employees: 7,000 (December 2010) Homepage: [http://www.westernunion.com/ WesternUnion.com]
The Western Union Company is a financial services and communications company based in the United States. Its North American headquarters is in Englewood, Colorado. Up until it discontinued the service in 2006, Western Union was the best-known U.S. company in the business of exchanging telegrams.[citation needed]
Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services.
Western Union, as an industrialized monopoly, dominated the telegraph industry in the late 19th century. It was the first communications empire and set a pattern for American-style communications businesses as they are known today.
In 1851, the New York and Mississippi Valley Printing Telegraph Company was organized in Rochester, New York by Hiram Sibley and others, with the goal of creating one great telegraph system with unified and efficient operations. Meanwhile, Ezra Cornell had bought back one of his bankrupt companies and renamed it the New York & Western Union Telegraph Company. Originally fierce competitors, by 1855 both groups were finally convinced that consolidation was their only alternative for progress. The merged company was named The Western Union Telegraph Company at Cornell's insistence, and Western Union was born.
Western Union bought out smaller companies rapidly, and by 1860 its lines reached from the East Coast to the Mississippi River, and from the Great Lakes to the Ohio River. In 1861 it opened the first transcontinental telegraph. In 1865 it formed the Russian American Telegraph in an attempt to link America to Europe, via Alaska, into Siberia, to Moscow. (This project was abandoned in 1867.) The company enjoyed phenomenal growth during the next few years. Its capitalization rose from $385,700 in 1858 to $41 million in 1876. However it was top-heavy with stock issues, and faced growing competition from several firms, especially the Atlantic and Pacific Telegraph Company--it

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Hikmet Ersek Latest News

Western Union's CEO explains why leaving corporations to lead societal change is wrong, and why it must come down to citizens making decisions

Western Union CEO Hikmet Ersek has driven his company to embrace ESG policies. But he wants Davos attendees to recognize the systemic challenges.
Posted: January 22, 2020, 11:45 am

Western Union to tap into digital payments in India

While cash transactions are still the largest part of the remittance market, the strongest growth is coming digitally, Hikmet Ersek, global CEO, Western Union told ET’s Surabhi Agarwal in an ...
Posted: October 24, 2019, 7:37 pm

Western Union Brass Accused Of Shoddy Anti-Fraud Efforts

In a 150-page complaint filed late Thursday, stockholder Stanley Lieblein alleges claims against Western Union directors and officers, including CEO Hikmet Ersek, and seeks to have the court declare ...
Posted: January 17, 2020, 2:44 pm
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