ADP Appoints Thomas J. Lynch and Scott F. Powers to Board of Directors

These appointments expand the ADP Board of Directors to 12 members currently.

ADP (No. 17 on the DiversityInc Top 50 Companies list) announced that Thomas J. Lynch and Scott F. Powers have been appointed to the Board of Directors, effective April 18, 2018.

These appointments expand the ADP Board of Directors to 12 members currently.

Thomas J. Lynch is a seasoned business leader with a deep operational background. He has served as Chairman of TE Connectivity Ltd., a leading global technology and manufacturing company, since 2013 and previously served as Chief Executive Officer from January 2006 to March 2017.

Scott F. Powers has over three decades of experience leading and advising firms in the investment management industry. From 2008 until his retirement in 2015, he was the President and Chief Executive Officer of State Street Global Advisors.

"Tom and Scott will be valuable additions to ADP's Board and we are excited to welcome them," said John P. Jones, non-executive Chairman of the Board. "The breadth and richness of their business experience will be tremendous assets for us. As the Board anticipates a return to a smaller 10-member Board over time, we believe these appointments reflect ADP's longstanding commitment to thoughtfully bringing in fresh perspectives, and we look forward to the insights and contributions that Tom and Scott will bring to ADP."

"Working with our Board, the ADP management team is focused on executing on our ongoing transformation strategy and driving sustainable long-term shareholder value," said Carlos Rodriguez, President and Chief Executive Officer. "The Board and management are both actively engaged with our shareholders, and we look forward to maintaining our strong collaboration."

Before becoming CEO of TE Connectivity Ltd., Mr. Lynch was President of Tyco Engineered Products and Services since joining Tyco International in September 2004. Prior to that, he served as Executive Vice President of Motorola and President and Chief Executive Officer of Motorola's Personal Communications sector. In addition to TE Connectivity Ltd., Mr. Lynch is currently a director of Cummins Inc. and Thermo Fisher Scientific Inc. Mr. Lynch holds a Bachelor of Science in Commerce from Rider University.

Before joining State Street, Mr. Powers was the President and Chief Executive Officer of Old Mutual Asset Management, the U.S.-based global asset management business of Old Mutual plc. He also held executive roles at Mellon Institutional Asset Managementand Boston Company Asset Management. Mr. Powers is currently a director of PulteGroup, Inc. and Sun Life Financial Inc. He holds a Bachelor of Arts in Economics from Harvard College.

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The Future of Pay is Here! New ADP Innovation Helps Employers Tailor Payments to the Preferences of All Employees

Wisely Pay by ADP Combines Global Cash Card and ADP Capabilities to Create Best-in-Class Payment Offering

Originally Published by ADP.

Changes in talent demographics, working arrangements and technology are impacting how employees need and want to be paid. To meet these shifts, paycards and digital accounts are increasingly becoming attractive options, allowing employees to access their pay how and when they want. Additionally, employers now have the opportunity to take an active interest in the financial wellbeing of their workers to help them get the most out of their pay.

ADP is continuing its innovation momentum by revolutionizing the way people are paid by introducing Wisely Pay by ADP. Wisely Pay is the next step in ADP's constant evolution to put clients and their workers at the forefront of macro trends shaping the employment landscape, including the growing number of freelance individuals.

"The world of work is changing and our clients look to us as the market leader in payments, to help them better engage with their entire workforce," said Doug Politi, president of Compliance Solutions at ADP. "Wisely Pay is leading the way people get paid in the future as a true bank alternative, with innovative services like instant pay, savings, digital wallet, and other financial management and wellness features that are better aligned with the evolving workforce."

The functionality of digital accounts, including paycards, and ease of access to funds have made them particularly popular among Millennials. According to a recent report commissioned by ADP, almost half of Gen Z (47 percent) and nearly a third of Millennials (31 percent) would turn down a job if they were unable to choose their method of pay. Additionally, this report revealed that 47 percent of Millennials and 66 percent of Gen Z have used a pre-loaded payment card in the last 12 months.

Wisely Pay is the first offering resulting from ADP's acquisition of Global Cash Card and provides the administrative tools and support to enable employers of any size, industry and workforce blend of full-time, part-time and/or freelance workers to enjoy:

  • Advanced technologies: Best-in-class experiences for cardholders and administrators from ADP's in-house digital payments platform, built by Global Cash Card and ADP's award-winning Instant Funding APIs.
  • Pay flexibility: Wisely Pay offers multiple ways to receive, spend, and manage money, including fully electronic options like peer-to-peer transfers, instant pay, and mobile digital wallets by Apple Pay®, Samsung Pay® and Android Pay®.
  • Attracting and retaining talent: The multi-generational workforce places unique demands on employers and Wisely Pay helps satisfy the needs of workers by offering a banking alternative with numerous funding options, easy cash access, broad purchasing capability, ability to avoid paper check fees and modern financial management tools.
  • Peace of mind: With a 50-state electronic pay program, backed by market-leading expertise and experience in the regulatory landscape, employers can rely on ADP Compliance Solutions, advanced data security and single point-of-contact resolution for all employer support or cardholder issues (e.g. fraud prevention, dispute resolution).

The Wisely paycard will first be available to employers who select to offer sponsored accounts for employees in September 2018 in the United States.