Dive Brief:

• Digital payments pioneer PayPal has hired Fiserv executive Suzan Kereere to be its first president of global markets, starting Jan. 1, according to a Wednesday press release from the company. She will oversee PayPal’s local business strategy and related plans for growth in markets worldwide, the release said.
• In addition to her top role at mega processor Fiserv, Kereere, 57, has worked for Visa and American Express. She will take her new post at the same time that PayPal’s executive vice president of global sales and merchant services, Peggy Alford, 51, exits in January after 11 years at the company, the release said.
• “Throughout her more than 30-year career, she’s led successful transformation, sales, and customer initiatives with a proven track record of championing a more inclusive culture in the workplace, maximizing value for customers, and driving growth,” PayPal CEO Alex Chriss said of Kereere in the release.

Dive Insight:

The executive suite shuffle at PayPal comes as Chriss, who was appointed in August, is remaking the company’s top team. Chriss has been building out his management team with PayPal outsiders since taking the company’s top post, also appointing Isabel Cruz as its new chief people officer and hiring Michelle Gill, an executive vice president who will act as general manager of a new small business and financial services group unit.

The company handles transactions for consumers, businesses and merchants worldwide by way of its digital payments services. Kereere will be tasked with ensuring that PayPal’s operations offer “seamless execution,” and will oversee global sales and distribution for products and services, according to the release. Ultimately, she’ll also be responsible for driving profitable growth, which Chriss has said is a priority.

“Suzan is a highly accomplished executive with extensive experience leading global payments and technology platforms and businesses at Fortune 100 companies around the world,” Chriss said in the release.

In a separate press release, Fiserv named Kereere’s successor: Jennifer (Jenn) LaClair will take on the job leading the company’s global business solutions. She is currently Fiserv’s chief revenue officer.

Kereere has extensive experience in the industry. She’s currently the executive vice president of global business solutions at Fiserv and during her 2.5-year stint at the company was also previously the chief growth officer. Prior to her role at Fiserv, she worked for card giant Visa for five years, from 2016 to 2021, most recently as global head of merchant sales and acquiring, according to her LinkedIn profile.

She also logged nearly 20 years at American Express, from 1996 to 2016, and was senior vice president and general manager for its national client group in the global merchant services division before she left. She is also a member of the 3M board.

For her part, Kereere called PayPal an “iconic brand” in the release, and said she will seek “to empower consumers and businesses to reach their full potential.”