Home > Companies > SmartyPig tabs new president, prepaid card veteran Scott McCormack

SmartyPig tabs new president, prepaid card veteran Scott McCormack

SmartyPig, an online social savings platform based in Des Moines, announced today the appointment of a new president, Scott McCormack (left), a former vice president of First National Bank and most recently a director of a prepaid card programs company.

McCormack, who, according to his LinkedIn profile, took on the role at SmartyPig in November, is replacing CEO Bob Weinschenk, an executive hired in 2009 who was based in Texas during his tenure.

“We look forward to Scott’s leadership for our existing SmartyPig products, as well as for the exciting new initiatives currently in development,” SmartyPig co-founder Jon Gaskell said in an email that accompanied today’s press release.

Prior to joining SmartyPig, McCormack served as senior director at TMS – smartOne Prepaid Solutions and vice president of debit/ATM products at First National Bank in Omaha.

It would seem McCormack’s experience in the prepaid card industry will be important for SmartyPig as it continues to expand its prepaid card offering, which was introduced in 2010.

Here’s more on McCormack, from the SmartyPig press release:

McCormack joined First National Bank in 1993, beginning his time in the credit card division, and later holding various executive positions in national consumer marketing and product and business development. He held responsibility for the debit and ATM business lines at First National Bank for 14 years, adding the smartOne Prepaid business unit in 2003. McCormack is a graduate of the University of Nebraska at Lincoln and received his Masters in Banking at the University of Wisconsin at Madison.

Though Weinschenk’s future role, if any, was not discussed in today’s release, his name and bio have been removed from SmartyPig’s “Executive and Advisory Team” page.

Silicon Prairie News will be following up with SmartyPig for more details on today’s announcement.

To learn more about the leader McCormack is replacing, see our posts: “Startup-struck Weinschenck brings diverse experience to SmartyPig” and “SmartyPig CEO on working for a Silicon Prairie-based startup“.

Image credits: Photo of Scott McCormack from linkedin.com.

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