Paysafe Group Appoints Philip McHugh as New CEO

Paysafe Group Limited, a multinational online payments company that offers services both under the Paysafe brand and subsidiary brands…

…announced through a press release that it appointed a new CEO.

Philip McHugh will take on the position and replace Joel Leonoff who will, from now on, serve as Vice Chairman of the Company’s Board of Directors. McHugh will start working in this new position on June 24 of this year.

More About the New CEO

McHugh has vast experience working in global banking and payment industries. His executive leadership career has been active for more than 20 years.

He will be ing Paysafe from leading global payments provider, TSYS. At this company, he was in charge of their merchant solutions division.

Before this, McHugh also worked for Barclays in London where he served as the Global CFO of Barclaycard and CEO of Barclaycard Business Solutions.

He was part of the leadership team that managed to double in size the business over a five-year period.

Excited to the Team

“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.”

A Word from Paysafe Rep

“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,” Stuart C. Harvey, Jr, Chairman of Paysafe Board of Directors, said about the new CEO.

Ex CEO Made Great Results

Former CEO, Leonoff, will continue working at the company as Vice Chairman of the Company’s Board…

…but will still be involved in the development of the company’s corporate strategy.

Leonoff is actually the founder of Paysafe which was established in 1997. Additionally, the firm was originally named Optimal Payments. He has been the President and CEO of the company since 2008.

While he was working in that position, the company had been on top of its game. It was constantly growing and was incorporating new and innovative solutions.

In 2018, it achieved record global transactional volumes of $85 billion.

“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 ion for creating a truly pioneering payments company,” Leonoff commented.

Source:

“Paysafe Group appoints Philip McHugh as CEO”, calvinayre.com, calvinayre.com, May 31, 2019.