Jerry R. Welch

Jerry R. Welch joined nFinanSe Inc. in September 2006 as Chief Executive Officer and became Chairman of the Board in January 2007. Prior to that, Mr. Welch was the Chairman of the Board of Picture People Inc., a leading chain of 320 mall-based photography studios from September 2005 to September 2006. In collaboration with Plainfield Asset Management, Mr. Welch, structured the acquisition of Picture People in September 2005 from the Hallmark Corporation, which had acquired the company in 1999 from its venture capital owners.

Prior to joining Picture People, Mr. Welch had been the Chief Executive officer of FAO Schwarz Inc., the 145 year old toy retailing icon. Mr. Welch previously served as the Chief Executive Officer of FAO Inc., a retail holding company for the FAO Schwarz, Zany Brainy, and the Right Start retail chains, before its dissolution and divestiture in 2003. Mr. Welch formed FAO Inc. in 2001 with the acquisition of Zany Brainy and FAO Schwarz by the Right Start, where Mr. Welch had served as Chairman and Chief Executive Officer since 1996. After the acquisitions, FAO Inc. consisted of 250 stores with over $600 million in revenues.

From January 1993, until September 2001, Mr. Welch was a Managing Director and Partner of Kayne Anderson Investment Management, Inc., a Los Angeles – based investment firm. At Kayne Anderson, Mr. Welch specialized in direct investments and control investments in public companies.

Prior to joining Kayne Anderson, Mr. Welch had been an executive officer with three publicly traded companies. During 1991 and 1992, Mr. Welch was the Chairman and Chief Executive Officer of Glacier Water Services, Inc. the nation’s leading operator of self service, coin-operated water dispensing machines. Mr. Welch took Glacier public in March 1992 before leaving later that year to join Kayne Anderson. While at Kayne Anderson, Mr. Welch engineered a control investment in Glacier and subsequently served as its Chairman and Chief Executive Officer from 1993 to 1999.

From 1986 to 1991, Mr. Welch was President and Chief Executive Officer of Stars to Go, Inc., the leading operator of videocassette rental programs in retail locations. Mr. Welch took Stars to Go public in 1986, grew the Company to 6,000 locations and $65 million in revenues at its peak, before selling the Company in 1991.

From 1980 to 1986, Mr. Welch was employed as a senior officer with National Convenience Stores Incorporated, an NYSE listed company with over 1200 stores and $1 billion in sales. From 1983 to 1986, Mr. Welch was Senior Vice President-Stores overseeing all of the company’s retail operations and merchandising and marketing activities. From 1980 to 1983, Mr. Welch was the Company’s Vice President of Finance and Chief Financial Officer.

Prior to joining National Convenience Stores, Mr. Welch was employed by Touche Ross & Co. from 1974 to 1979 and the Federal Reserve Bank from 1972 to 1974. Mr. Welch graduated from The University of Tennessee in 1972 with a B.S. in Business Administration and a major in Finance.

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