PayPal Names Chief Compliance Officer

Sep. 23. 2010

PayPal recently announced it has created a chief compliance officer position. To fill the post, the division of eBay has hired Leonard Shen, who will be responsible for ensuring that the company operates within the rules governing the markets in which it operates. Shen comes to PayPal from American Express where he was the chief compliance and ethics officer. He has also worked for the U.S. Senate, the Environmental Protection Agency, the Department of Justice and the Ninth Circuit Court of Appeals. “To be successful managing a payments business on a global scale, you have to have a deep understanding of the rules governing each market where you operate, and a global framework for managing operational and compliance risks,” said Scott Thomson, CEO of PayPal. “PayPal is committed to building our business in this model, while being in full compliance with the rules that govern our business around the globe.”