PayPal boosts its senior executive firepower

PayPal today has hired three financial industry veterans to help drive the company's continued global growth that is predicted to see the business derive more than half of its revenue from outside the US within the next three years.

Joining the business are Renier Lemmens who will lead PayPal's business in Europe, where he will be responsible for expanding usage of PayPal on eBay and on other e-commerce sites across the region. John McCabe joins as senior vice president of worldwide operations for PayPal, and Ed Eger has been appointed as senior vice president of transaction management, covering risk management and core payment processing worldwide.

All three will now report to PayPal President Scott Thompson who says: "PayPal has a clear goal to power e-commerce around the world. To achieve this we're focused on driving a better experience for our customers and increasing usage around the world. I'm confident that John, Ed and Renier are the right people to help PayPal realise the tremendous opportunity that's ahead for our business."

McCabe joins PayPal from Wachovia Corporation, where he was executive vice president of Wachovia Direct Access. In this position, he led Wachovia's contact centers in 15 domestic and global locations, serving 20 lines of business and approximately 15 million customers. A financial services and technology professional with more than 33 years of global experience, McCabe brings vast knowledge and expertise in customer service transformation and retail banking operations.

Eger joins PayPal from Citigroup, where he was the CEO of the company's international consumer credit card business. In that role, he was responsible for an organization that spans 50 countries and serves more than 40 million customers worldwide. In his 25-year career, Eger has run a range of financial service businesses in North America, Asia, Latin America and Europe.
Lemmens brings more than 20 years experience in financial services and technology to his role as head of PayPal Europe. Recently Lemmens served as chief operating officer of the International Retail and Commercial Banking Division at Barclays Bank PLC, covering all functional areas across 23 markets globally. A native of The Netherlands, Lemmens has extensive international business experience having worked in the Benelux region, France, Germany, Switzerland, the UK, Hungary, India and North America.