Philip McHugh, CEO, Paysafe Group

London-based Paysafe Group has appointed Richard Swales as its Chief Risk Officer, effective from October 14, 2019. The new CRO will report to the CEO Philip McHugh and is expected to take responsibility for the company’s global risk strategy, including enterprise, merchant and consumer risk functions.

Philip McHugh, CEO of Paysafe, commented, “Paysafe has a strong track record of specializing in niche, highly regulated segments and verticals. This is something that differentiates us, and it also means we need to continue our laser focus on maintaining an industry-leading risk strategy. I am delighted that someone of Richard’s caliber and experience is joining our leadership team and I’m confident that he will be a huge asset as we continue to grow and focus on accelerating our strategy as the global, specialized payments provider.”

Swales has previously worked at PayPal, leading its global risk, compliance and governance strategy. He has also worked in the public sector as a Customs & Excise officer for the UK’s HM.

Richard Swales said, “I am delighted to be joining Paysafe at such an exciting time in its growth journey. Paysafe has a fantastic track record of serving specialized verticals and offers one of the most differentiated payments portfolios in the industry. On top of this, the chance to work with Philip and such an ambitious and focused team presents a truly exciting opportunity. I am very much looking forward to playing a role in the ongoing growth of the Paysafe business.”

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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