PayPal has named Simon Bladon as its new UK CEO, pending regulatory approval.
In addition to this role, Bladon will also assume the position of Vice President of Global Entity Management at PayPal.
With a decade-long tenure at Barclays, he brings a wealth of experience to his new role.
Bladon’s career at Barclays began in 2010, and over the years, he held various leadership positions, including Managing Director of Customer and Digital, Head of Operations and Control, and responsibility for implementing the FCA Consumer Duty.
His roles encompassed overseeing customer operations, data privacy, and regulatory compliance.
Before returning to the main bank in 2021, Bladon played a pivotal role in establishing Barclays Ventures in 2018, focused on leveraging technology, data, and strategic partnerships to create transformative business lines and capabilities.
His previous roles at Barclays included serving as Managing Director of Group Strategy, where he led strategic transformation programs such as the Barclays Brexit License Application, Senior Managers Regime Implementation, and regulatory license application for the creation of Barclays International.
Additionally, Bladon contributed his expertise as a non-executive director at Aqua Air Ltd, a 25-year-old family business specializing in cleaning solutions.
He played a crucial role in responding to the strategic challenges posed by COVID-19, overseeing the business’s reorganization, and facilitating its sale in June 2022.
PayPal’s entry into the cryptocurrency space has also made headlines. The company gained approval from the UK’s Financial Conduct Authority (FCA) to offer cryptocurrency services starting October 31, 2023.
However, there are restrictions in place, limiting PayPal to holding and selling crypto assets exclusively for existing customers, with no onboarding of new ones permitted.
The FCA has also prohibited PayPal from engaging in various crypto activities such as exchanges, initial coin offerings, and decentralized finance.
This development follows PayPal’s temporary suspension of crypto purchases for UK customers in October as part of efforts to comply with the new regulatory requirements.
Positioned as the fourth company to receive FCA’s crypto registration in 2023, PayPal continues to navigate the evolving landscape of cryptocurrency services in the UK.