Square has hired Jackie Reses to lead Square Capital, the company’s business financing service that has advanced more than $225 million to Square sellers across the country since launching in May 2014.
Reses brings over 20 years of financial and leadership experience to the role and most recently served as Yahoo’s Chief Development Officer, where she focused on revenue and product partnerships, strategic acquisitions, and operational and people transformation.
“Square Capital reaches businesses that traditional financial institutions often neglect, and I’m very excited to expand that opportunity to others,” said Reses. “I believe in Square’s mission, and I’m thrilled to be joining the Square family and working with the team to support the company’s continued commitment to sellers of all sizes.“
“Jackie’s understanding of the financial services industry and her background in tech and investing make her the perfect fit to lead Square Capital, and I’m thrilled she is joining our leadership team,” said Jack Dorsey, CEO of Square.
Reses joined Yahoo in 2012, and while there, was also on the Board of Directors of Alibaba Group, China’s largest online and mobile commerce company. She co-chaired the audit committee of the Board and worked on some of their important transactions related to Alibaba and ANT Financial’s international payments operation. She was involved in the development of Aabaco Holdings, the wholly-owned subsidiary of Yahoo Inc. which is expected to be listed as an independent, publicly-traded, closed-end management investment company. Prior to Yahoo, Reses led the U.S. media group at Apax Partners, one of the largest global private equity firms with over $40 billion in assets. Earlier in her career, she spent seven years at Goldman Sachs in mergers and acquisitions and the principal investment area. Reses sits on the advisory council of the Federal Reserve Bank of San Francisco and the Board of Directors of the Wharton School of the University of Pennsylvania.
Square recently hired two additional senior professionals to join the Square Capital team.
Henry Domenici leads Square Capital’s financing and joined from Morgan Stanley where he ran the consumer asset-backed securities business in the Global Capital Markets Division since 2009. Prior to that he spent 12 years at Lehman Brothers and Barclays Capital in various senior financing roles.
Ted Kosev leads product management and operations for Square Capital. He joined from Amazon, where he launched and grew Amazon Lending from program design to international expansion. Ted also served as head of seller marketing and acquisition for Amazon's B2B marketplace. Before Amazon, he spent more than 10 years in small business and consumer lending.