MX snatches another key Paypal executive: Wes Hummel appointed as CTO

Rick Steves

Wes Hummel spent more than 14 years at PayPal in a variety of roles, where he met the recently appointed MX chief executive Jim Magats.

MX has appointed Wes Hummel as Chief Technology Officer, in charge of overseeing the company’s engineering and information security teams and reporting to MX Chief Executive Officer Jim Magats.

Wes Hummel has spent the past 25 years building global engineering teams in financial services, most recently serving as PayPal’s Vice President, Site Reliability and Cloud Engineering.

At Paypal, he was responsible for creating the company’s infrastructure and operations vision and strategic direction, with a strong emphasis on security, availability, quality, enablement, modernization, and efficiency.

Wes Hummel spent more than 14 years at PayPal in a variety of roles starting as software development manager on the global production solutions team before leading the site reliability engineering and operations teams.

Prior to joining PayPal, he spent eight years as a software engineer at Clarity Communications Systems and five years at Motorola focused on creating internal tools to increase software reliability and availability.

He has also served two years as a board member for the Arizona Technology Council focused on transforming the state into a national technology leader.

“I’ve worked alongside Wes for more than a decade”

Chief executive Jim Magats joined MX earlier this month after 18 years at Paypal, where he was most recently Senior VP, Omni Payments Solutions. There, he worked with the newly appointed CTO.

Jim Magats, Chief Executive Officer at MX, said: “Wes Hummel brings a tremendous amount of experience building and leading high-impact engineering teams at the world’s leading technology and fintech companies. I’ve worked alongside Wes for more than a decade developing financial products that deliver better outcomes for businesses and consumers. He is a proven technology leader with a passion for people development and fostering strong cultures that execute at the highest level.”

Wes Hummel, Chief Technology Officer at MX, commented: “I am thrilled to be joining Jim and the entire MX team in building the infrastructure to power the open finance economy and bringing together financial institutions and fintechs to drive better customer outcomes and experiences. My passion is in building strong, efficient engineering teams that solve big, complex problems working in tandem with our product, sales, customer experience, and marketing teams.”

MX new CEO Jim Magats spent 18 years at Paypal

MX has recently announced the appointment of Jim Magats as Chief Executive Officer, joining from Paypal, where he was most recently Senior Vice President for Omni Payments Solutions.

Jim Magats, who also joins the MX Board of Directors, spent 18 years as a senior executive at PayPal Inc., helping spearhead the firm’s transformation into one of the most valuable and innovative fintech companies in the world.

He was a member of PayPal’s 12-person Operating Group charged with ensuring that the organization met its strategic and financial targets.

As Senior Vice President for Omni Payments Solutions he oversaw PayPal’s open banking strategy and solutions, as well as a partnership network of more than 150 financial institutions and networks.

Jim Magatsfirst joined PayPal in 2004 and, while based in Europe, he partnered with regulators on the creation of the Payment Services Directive 2 (PSD2) banking standards for banks and fintechs. Then, he helped build open, secure API capabilities.

Most recently, his scope included leading the product and technology teams responsible for PayPal’s merchant-facing products, including Braintree and Zettle, as well as the payment platforms that power PayPal Check Out and Venmo, processing over $1.2 trillion per year.

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