MX, one of the fastest-growing companies in the open finance ecosystem, confirmed yesterday that it has selected Jim Magats, an industry veteran with almost three decades of corporate experience, as the company’s Chief Executive Officer (CEO). The appointment of Magats will be effective from 17 August 2022.
Magats joins MX after spending more than 18 years at PayPal. During his time with the payments firm, he served in a wide range of roles, including Director of Payment Solutions. In his recent position, Magats worked as the Senior Vice President for Omni Payments Solutions at PayPal. The newly appointed CEO of MX played an important role in the global expansion of PayPal.
"Financial data is the lifeblood of a connected economy, and nobody helps organizations access and act on financial data better than MX. Our opportunity to make financial data accessible and actionable is global, extends across verticals and has the potential to make a positive difference in the lives of billions of people," Magats said.
"After 18 amazing years at PayPal, I'm incredibly excited to join MX, a company on a mission to build the open finance economy and empower the world to be financially strong. We are going to deepen and extend our partnerships with financial institutions and fintech companies to fuel the next wave of innovation while fostering greater participation in the global economy through new products, use cases and services,” he added.
Magats will also join the Board of Directors of MX.
Shane Evans
In January 2022, MX named Shane Evans as the Interim Chief Executive Officer and President. After the appointment of Magats, Evans will continue as a Senior Advisor.
"It was an honor of a lifetime to lead MX following the tragic passing of our dear friend and Co-Founder Brandon Dewitt and the transition of Ryan Caldwell to Executive Chairman of the Board of Directors," Evans said.
