Paysafe Group (“Paysafe”), a leading global payments provider, announced the appointment of Philip McHugh as its CEO. 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 the merchant solutions division. During his tenure in the position, McHugh played an instrumental role in growing TSYS’ revenues and profits by over 30 percent.
Prior to TSYS, McHugh worked for Barclays in London, where he was global CFO of Barclaycard and CEO of Barclaycard Business Solutions.
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$85 billion.