PayPal appoints new Aussie boss

PayPal Australia has appointed a new managing director after its former chief left to take up a new role at the company's US-based parent.

Jeff Clementz will leave his three-year stint as the company's local boss to return to the US to become PayPal's new vice president of compliance operational excellence in global operations.

Former AMP executive Libby Roy took up the vacant local post late last month.

She joins PayPal Australia after two years as AMP's director of corporate super, and previous executive stints at American Express spanning nine years.

Roy will sit on the Australian PayPal board and will also serve as an executive committee member of the company's APAC leadership team.

“Innovation in payments technology is hotter than ever and it is such an exciting time to be a consumer in Australia,” Roy said in a statement.

PayPal's revenue grew 19 perecent in 2014, up to $7.9 billion. It has nearly 5.6 million active users in Australia as of 2014.