Former PayPal executive Peggy Mangot joined JPMorgan Chase this month as head of fintech partnerships for the firm’s commercial bank.

Mangot, who joined the bank this month, according to her LinkedIn account, leads a team responsible for designing, developing and driving the commercial bank’s fintech partnership strategy, JPMorgan said in an internal memo.

“We’re excited to have Peggy at the helm of this important effort," Sue Dean, head of payments solutions for JPMorgan Chase Commercial Banking, said in a statement. "Peggy brings a wealth of expertise having worked with fintechs across both consumer and B2B payments for the last two decades.”

Based in San Francisco, Mangot reports to Stephen Markwell, who leads payments product strategy at JPMorgan’s commercial bank, a role that includes fintech partnerships, the bank said.

Mangot joins the New York City-based bank after serving almost two years as an operating partner at PayPal Ventures where she helped lead investments globally across fintech, commerce, infrastructure and crypto. San Jose-based PayPal has recently been grappling with a pullback in growth plans and worldwide workforce reductions and cost-cutting.

Prior to joining PayPal, Mangot was senior vice president of innovation at Wells Fargo, where she led the development and launch of Greenhouse, a money management app the bank rolled out in 2017.

The app, which was geared toward younger users and gig workers, competed with Wells Fargo’s main retail banking offerings, according to CNBC. Wells Fargo stopped accepting users for Greenhouse in 2020.

In addition to formerly holding executive role at tech giant Google as well, Mangot co-founded the micro-investing startup SparkGift in 2015 before it was acquired by Stockpile.

By Anna Hrushka on May 27, 2022
Original link