Travelers Express has promoted Philip W. Milne to president and chief executive officer.
Mr. Milne succeeds Robert H. Bohannon, who was recently appointed president and chief operating officer of Travelers Express' parent, Viad Corp.
Mr. Milne was vice president and general manager of the Travelers Express retail payment products group, the company's main line of business. Before joining Travelers Express in 1991, he worked at Citicorp and First Chicago Corp.
Travelers Express is a processor of money orders, official checks, share drafts, in-person bill payments, and home banking transactions.
The company, which has been based in Minneapolis for 50 years, provides processing services to more than 4,500 financial institutions and 44,000 retail locations.
Paul B. Dykstra, a 12-year veteran of Travelers Express, will succeed Mr. Milne.