Next phase of PayPal’s growth with a new SVP

Responsibilities of the new official will embrace product development, IT operations, security and corporate architecture. September will be the starting point of his work.

Previously Guilfoyle was chief information officer at Bank of America's credit card business, where he oversaw an organization of 1200 people and his most recent place was online mortgage loan marketplace LendingTree where he held a position of chief information officer.

PayPal president Scott Thompson noted that Guilfoyle's "extensive background and understanding of technology make him the ideal leader to take PayPal's robust payment platform into its next phase of growth".