Paysafe Group Appoints Philip McHugh as CEO
LONDON & MONTREAL, May 30, 2019 (GLOBE NEWSWIRE) -- Paysafe Group (“Paysafe”), a leading global payments provider, today announced the appointment of Philip McHugh as its CEO, effective June 24, 2019. McHugh replaces Joel Leonoff who is taking up a new position as Vice Chairman of the Company’s Board of Directors.
McHugh, who will also sit on the Paysafe Board, brings extensive experience of the global banking and payments industries to the role, and an executive leadership career spanning more than 20 years. He joins Paysafe from TSYS, a leading global payments provider, where he was responsible for heading up their merchant solutions division. During his tenure in the position, McHugh played an instrumental role in growing TSYS’ revenues and profits by over 30%.
Prior to TSYS, McHugh worked for Barclays in London where he was Global CFO of Barclaycard and CEO of Barclaycard Business Solutions. During his time with Barclaycard, he was part of the leadership team that more than doubled the size of the business over a five-year period through the implementation of various strategic growth initiatives.ⁱ
Stuart C. Harvey, Jr, Chairman of the Paysafe Board of Directors, commented: "We are delighted that somebody of Philip’s caliber has accepted the role of CEO for Paysafe. His relentless focus on serving the customer, and his proven ability to drive operational excellence within complex financial organizations, has led to strong results throughout his career. This track record combined with his visionary approach will be invaluable as we advance the Company's corporate strategy."
Philip McHugh added: "I am truly honored to become part of the Paysafe story. Paysafe has built an incredibly unique payments business that is scaled, diverse, highly specialized and frankly hard to beat. The opportunity to continue to invest in, and leverage Paysafe’s differentiated payments assets, as well as identify new areas of growth while working with a highly focused and energized team, is a very exciting one. I look forward to meeting the team and helping to take Paysafe to the next level of growth and scale.”
Meanwhile, in his new role as Vice Chairman of the Company’s Board, Leonoff will continue to be closely involved in the development of Paysafe’s corporate strategy. Leonoff founded Paysafe, originally Optimal Payments, in 1997 and has held the position of President and CEO since 2008. During his tenure as CEO, Paysafe has delivered consistent top and bottom-line growth and successfully introduced innovative new payments solutions to the marketplace including its range of digital wallets and online cash solutions. In 2018 it achieved record global transactional volumes of US $85bn.
Stuart Harvey added: “Joel is a true entrepreneur and has taken this business from humble beginnings as a Canadian start-up to a global payments provider serving millions of merchants and consumers around the world. We would like to thank him for his terrific contribution over the years and we look forward to continuing to work closely with him as Vice Chairman of our Board.”
Joel Leonoff said: “I congratulate Philip on his appointment and look forward to working with him on the transition. I am confident that under his leadership Paysafe will continue to prosper long into the future. It has been an incredible honor to lead Paysafe and I am very grateful for the commitment and hard work of our people and their passion for creating a truly pioneering payments company.”
Notes to Editors:
ⁱ Philip McHugh Biography in full
Philip McHugh has extensive experience of the global banking and payments industries and an executive leadership career spanning more than 20 years.
He joins Paysafe from TSYS, a leading global payments provider, where he was responsible for heading up their merchant solutions division. During his time at TSYS, McHugh played an instrumental role in growing TSYS’ overall revenues and profits by over 30%. His specific achievements included the acquisition and full integration of two businesses – Cayan and iMobile3; and the creation of a more dynamic, results-driven product delivery and technology culture, including the upgrade of TSYS’ integrated platforms and the market launch of its Vital smart POS product lines.
Prior to TSYS, McHugh spent over ten years working for Barclays in London where he held several senior roles, including Global CFO of Barclaycard and CEO of Barclaycard Business Solutions. During his time with Barclaycard, he was part of the leadership team that more than doubled the size of the business over a five-year period through the implementation of various growth initiatives. These included the rapid expansion of the US business, and the transformation of the UK payments businesses through new platform investments and the introduction of virtual credit card and contactless solutions, ultimately helping Barclaycard to regain its position as the number one card issuer in the UK.
Before Barclays, McHugh spent ten years with Citi (formerly Citigroup) working in both Latin America and the U.S. His accomplishments while at Citi included leading multiple card portfolios in Brazil (Diners, Platinum, AAdvantage), running the company’s data analytics and successfully leading the finance function for Citi’s International Personal Banking division.
McHugh has a Bachelor of Arts degree from Emory University in Atlanta, Georgia, and an MBA from the University of South Carolina.
About the Paysafe Group
Paysafe Group (Paysafe) is a leading global provider of end-to-end payment solutions. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, card issuing and online cash solutions.
With over 20 years of online payment experience, an annualized transactional volume of over U.S. $85 billion, and approximately 3,000 employees located in 12+ global locations, Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world.
Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments.
Visit us at www.paysafe.com.
For Media Inquiries:
Kate Aldridge: SVP, Corporate Communications, Paysafe Group
Phone: +44 750 079 754/Email: email@example.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9b23924e-e1dc-4a6b-a9ce-8a6a4fe938fd
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Inventiva secures new patent in the US strengthening the protection of its lead product candidate lanifibranor20.8.2019 17:45:00 CEST | Press release
Inventiva secures new patent in the US strengthening the protection of its lead product candidate lanifibranor New patent granted in the United States by the USPTO protects the use of lanifibranor for the treatment of fibrotic diseases until June 2035 This patent strengthens the protection of lanifibranor in the United States Daix (France), August 20, 2019 – Inventiva (Euronext: IVA), a clinical-stage biopharmaceutical company developing oral small molecule therapies for the treatment of diseases in the areas of fibrosis, lysosomal storage disorders and oncology, today announced that the United States Patent and Trademark Office (USPTO) granted a new patent on August 20, 2019 that protects the use of lanifibranor for the treatment of fibrotic diseases until June 2035. This new patent further strenghens Inventiva’s patent portfolio for lanifibranor, the Company’s lead product candidate, in the United States, which already comprised a New Chemical Entity (NCE) patent and a patent protect
Banks net position in the Riksbank20.8.2019 16:44:00 CEST | Press release
AUG 20, 2019 SEK MILLION LENDING BORROWING 301
Permission issued to increase the authorised capital of AB Klaipedos nafta subsidiary UAB SGD terminalas20.8.2019 16:00:00 CEST | Press release
With the permission of the Ministry of Finance of the Republic of Lithuania, obtained by AB Klaipedos nafta (hereinafter - the Company), came into force the Company’s board decision to increase the authorised capital of the Company’s subsidiary UAB SGD terminalas in the amount of EUR 10 000. Jonas Lenkšas, Chief Financial Officer, +370 694 80594
PCI Biotech: Invitation to second quarter and first half 2019 results presentation20.8.2019 15:38:00 CEST | Press release
Oslo, Norway, 20 August 2019 - PCI Biotech invites to a presentation of the company's second quarter and first half 2019 results on Wednesday 28 August 2019 at Oslo Cancer Cluster Innovation Park. Time: Wednesday 28 August, 08:30am – 09:30am CEST (local time). Venue: Jónas Einarsson aud. (2nd floor, entrance 2B), Oslo Cancer Cluster Innovation Park, Ullernchausséen 64, Oslo. The presentation will be held in English and if you wish to attend the presentation, please confirm with an e-mail to firstname.lastname@example.org. The presentation will also be a live webcast and can be accessed through www.pcibiotech.com. It will be possible to post questions through the webcast console. The interim report and the presentation will be available on www.newsweb.no and on the company's webpage, www.pcibiotech.com from 07:00am (CEST) on 28 August 2019. For further information, please contact: Ronny Skuggedal, CFO Email: email@example.com Mobile: +47 9400 5757 About PCI Biotech PCI Biotech is a biopharmaceutica
Regarding resignation of member of the Supervisory Board20.8.2019 15:30:00 CEST | Press release
We hereby inform that, T. Lukoševičius, a member of Supervisory Board of AB Klaipedos nafta (hereinafter – the Company) 20 August 2019 submitted a notice of resignation of members of Supervisory Board of the Company as of 3 September 2019 (this day is the last day of the mandate). It should be noted that, currently the Supervisory Board of the Company consists of 3 members, 2 of them are independent. After the resignation of T. Lukoševičius, the Ministry of Energy of the Republic of Lithuania will conduct the selection of new member of the Supervisory Board. The Supervisory Board is elected by the General Meeting of Shareholders for 4 years. If individual members of the Supervisory Board are elected, they shall be elected only until the end of the term of office of the current Supervisory Board. Jonas Lenkšas, Chief Financial Officer,+370 694 80594
SERSTECH AB: Boardmember Anna Werntoft resigns from the Board of Serstech20.8.2019 13:40:00 CEST | Press release
Anna Werntoft will leave the board of directors effective on the 30th of September. The reason for her resignation is that she enters a new operational position with terms that does not allow external assignments. Serstech wishes Anna all the best in her new position and would like to thank her for her contribution while being on the Serstech Board. The Serstech will consist of three Board members until the vacant position is filled. The search for a replacement has started and will be concluded before the next annual general meeting. For further information, please contact: Stefan Sandor, CEO, Serstech AB tel: +46 739 606067 email: firstname.lastname@example.org Thomas Pileby, Chairman of the Board, Serstech AB tel: +46 702 072643 email: email@example.com Company website: www.serstech.com The information was submitted for publication, through the agency of the contact person set out above at 13:40 CET on August 20, 2019. Certified advisor to Serstech is Västra Hamnen Corporate Finance AB, phone: 040-2