PayMongo announced the appointment of Jojo Malolos as president and chief executive effective Feb. 1, 2023.
It said Isabel Ridad would step down as interim CEO and would leave the company as she pursues her own venture. To ensure a smooth transition, Isabel will assist Jojo by remaining within the company until the end of February and will continue to serve on the PayMongo board of directors.
PayMongo said that as chief executive, Jojo will be responsible for re-shaping the company’s plans for the next phase of growth. Like many other companies, PayMongo is entering a scale-up period amid a challenging market environment, and Jojo will be leading the efforts to ensure success by implementing a broad range of transformation initiatives.
PayMongo said its board of directors has confidence in Jojo’s experience and ability to effect and manage change as he brings significant experience in M&A, organizational transformation and a track record in the fintech, venture capital, digital banking and innovation ecosystems.
Jojo will also lead the introduction of PayMongo’s next generation of products and services with a view to better serve its client base and drive the advancement of the internet economy in the Philippines and more broadly, Southeast Asia.
Jojo previously served as president and chief executive of DAVI and JG DEV, the data analytics and venture arm of the Gokongwei Group, respectively. He is co-founder and chairman of GoTyme Bank, one of the country’s digital banks licensed by the Bangko Sentral ng Pilipinas. He was previously the former CEO of Wing Bank, a leading digital financial services provider in Cambodia and of Smart Money, now known as PayMaya/Maya.
His global fintech experience includes stints with Mastercard Financial Services in Latin America and Cignifi Boston, which brought alternative credit scoring innovation to African emerging markets.