Ripple Labs Hires Former Paypal Payments CFO
Ripple Labs announced that it has hired Bret Allenbach as Chief Financial Officer.
Allenbach was CFO of Payments at PayPal, as well as Visa’s VP of Finance. At PayPal, Bret helped develop a finance risk model that took the company to the next level.
Ripple Labs CEO and co-founder Chris Larsen noted:
Bret adds a wealth of front-line experience and analytical prowess to our growing bench of cryptography, security, fintech and banking specialists.
Having architected a financial risk model for PayPal’s payments business that helped catapult PayPal from a multi-million dollar enterprise to a multi-billion dollar one, Bret has a proven track record as a key growth driver and strategist for fintech companies navigating new territory. He will be instrumental in charting and propelling Ripple Labs’ next phase of growth.
Prior to PayPal and Visa, Allenbach worked in finance related roles with the World Savings and Loan Association, the Federal Home Loan Bank of San Francisco, and the Pacific Gas and Electric Company.
I am thrilled to be a part of the incredible Ripple Labs team that is modernizing the world’s payments infrastructure.
In providing payments services to people and businesses throughout my career, I’ve experienced first-hand the inefficiency and inaccessibility of today’s settlement infrastructure. I look forward to engaging with the team and helping to support our grand vision of enabling an Internet of Value.