American Express has nabbed Daniel Schulman from wireless operator Sprint Nextel to head up a new enterprise growth unit that will concentrate on expanding the firm's mobile and online payments services.
Schulman has been president of Sprint's pre-paid group for the last year, a position he took on after the company acquired Virgin Mobile USA, which he founded and led.
Joining AmEx next month, he will be responsible for global strategy to expand alternative mobile and online payment services, form new partnerships and build revenue streams beyond the traditional card and travel businesses.
He will also be responsible for the company's business development, mergers and acquisitions unit while Revolution Money, acquired last year, and the global pre-paid unit will both report to him.
Reporting to chairman and CEO, Kenneth Chenault, Schulman joins the American Express Business Operating Committee.
Says Chenault: "New technologies are redefining the payments business and creating opportunities that go beyond our existing businesses. The Enterprise Growth group is designed to extend our leadership into the world of alternative payments and create new fee-based revenue streams for the post-recession environment."
He continues: "To head the new group, we looked outside the industry for a proven leader who knows how to transform today's technology into tomorrow's products. We wanted someone whose expertise cut across online and mobile technology, who has built new businesses, who knows how to work with great brands and who could help us leverage our existing assets and build new ones."
The company has also added former AOL executive Ted Leonsis to its board where he will head a new Innovation and Technology committee.