Paymongo announced the appointment of Jojo Malolos as its new President and CEO, effective February 1, 2023.
Malolos will replace Isabel Ridad, who serves as interim CEO. Ridad was appointed in November 2022, following the forced resignation of Paymongo’s co-founder, Francis Plaza.
Plaza was forced to resign due to allegations of harassment.
Ridad will remain in the firm until the end of February to assist the new CEO. Thereafter, she will leave the company to pursue her own venture but will continue to serve on the firm’s board.
Malolos has experience in both banking and venture capital, formerly serving in the top positions in DAVI and JG DEV, the data analytics and venture arm of the Gokongwei Group, respectively.
Malolos also served as CEO of Wing Bank, a digital finance service provider in Cambodia. He was also the former CEO of Smart Money, now known as Maya. He is the co-founder and chairman of GoTyme Bank.
Malolos will be in charge of reshaping PayMongo’s strategies for its upcoming phase of growth in his capacity as CEO.