Paysafe Limited (“Paysafe”), a leading specialized payments platform, which recently announced it would become a public company via a merger with special purpose acquisition company, Foley Trasimene Acquisition Corp. II (NYSE: BFT, BFT WS)(“Foley Trasimene”), today announced its Board of Directors, effective at the closing of the business combination transaction.
The post-merger Company Board, led by Chairman Bill Foley, is comprised of eleven (11) directors, bringing decades of industry experience across payments, banking, technology, gaming, entertainment, legal & regulatory affairs, capital markets and M&A.
William P. Foley, II, Chairman, commented, “I am very excited to work with the strong slate of directors upon merger completion. Over the course of the last few months I have come to know Philip and the Paysafe team very well and am looking forward to continuing the journey, enhancing Paysafe’s growth trajectory through accelerated operational transformation and M&A.”
Philip McHugh, CEO of Paysafe, added, “We have assembled a best-in-class Board of Directors comprised of proven, high-caliber leaders with extremely relevant but diverse perspectives. The collective strategic guidance and diversity they bring to the table, combined with the deep domain expertise we already possess in specialized payments, will serve us well as we accelerate our global growth strategy as a newly public company.”
Post-Merger Board Member nominees are:
William P. Foley, II
Best-in-class manager with decades of value creation in the public markets
Mr. Foley to lead the Company Board as Chairman.
Mr. Foley serves as Founder and Chairman of Foley Trasimene Acquisition Corp. II, leading the business combination of Foley Trasimene and Paysafe. Mr. Foley is also Chairman of Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae”) since 2017. He has more than 30 years experience as a board member and executive officer of public and private companies in a wide variety of industries, and a strong track record of building and maintaining stockholder value and successfully negotiating and implementing mergers and acquisitions. Mr. Foley has driven favorable outcomes due to his operational expertise, disciplined industry consolidation and rapid execution on cost-reduction opportunities in connection with mergers and acquisitions.
Mr. Foley is also founder of Fidelity National Financial, Inc. (NYSE: FNF) (“FNF”), and has served as the Chairman of the board of directors of FNF since 1984 and previously served as its Chief Executive Officer and President. Mr. Foley currently serves as the managing member and a Senior Managing Director of Trasimene Capital Management, LLC, a private company. He also serves as Chairman of Black Knight, Inc. (NYSE: BKI), and Chairman of Cannae portfolio company Dun & Bradstreet (NYSE: DNB).
After receiving his B.S. degree in engineering from the United States Military Academy at West Point, Mr. Foley served in the U.S. Air Force, where he attained the rank of captain.
CEO and COO with proven track record of growth and innovation in fintech
Mr. Jabbour is CEO of Dun & Bradstreet, a leading global provider of business decisioning data and analytics and concurrently serves as CEO of Black Knight, Inc., a premier provider of integrated software, data, and analytics to the mortgage industry.
Prior to joining Black Knight, Mr. Jabbour was the COO of Fidelity National Information Services, Inc. (“FIS”), a global leader in financial services technology ranked as the number one fintech company for the past several years. Mr. Jabbour joined FIS in 2004, where he held positions of increasing responsibility in operations and delivery services as a key member of the executive leadership team. During his tenure with FIS, Mr. Jabbour consistently helped the company grow through a solid combination of organic growth, product expansion, market penetration, and strategic acquisitions.
Mr. Jabbour began his career in IBM’s Global Services group, where he managed complex client relationships and projects, including the launch of a stand-alone internet bank for CIBC, a major Canadian financial institution. That achievement led him to join CIBC, where he built similar capabilities for the company’s U.S. market.
Mr. Jabbour holds a bachelor’s degree in electrical engineering from the University of Toronto.
Experienced investment bank CEO with deep knowledge of legal, regulatory and M&A matters
Ms. Kollmann is a member of the Supervisory Board and Chairperson of the Audit Committee of Deutsche Telekom AG. She is also a member of the Supervisory Boards of Unibail-Rodamco-Westfield SE and of Coca Cola European Partners, as well as being Deputy Chairperson of the Supervisory Board and Chairperson of the Audit Committee, of Deutsche Pfandbriefbank AG. Previously, she has been Deputy Chairperson of the Supervisory Board, as well as Chairperson of the Audit Committee, of Hypo Real Estate Holding AG, and a member of the Supervisory Board of KfW-IPEX Bank GmbH. She has also been a member of the Supervisory Board of Bank Gutmann AG.
Ms. Kollmann is a Commissioner in the Monopolies Commission in Germany, a permanent and independent expert committee, which advises the German government and legislature in the areas of competition policy-making, competition law and regulation. Its reports are published.
Previously, Ms. Kollmann was CEO of Morgan Stanley Bank AG in Frankfurt. In addition to her role as CEO and Country Head for Germany and Austria, she was a member of the Boards of Directors of Morgan Stanley International Ltd. and Morgan Stanley & Co International, Ltd. in London.
Prior to joining Morgan Stanley, Ms. Kollmann worked at UBS Philips & Drew Ltd, both in M&A and subsequently in the Equities Division. Past mandates include a membership in the Advisory Board of the EUREX Group and the role of “Sherpa” in the “Initiative Finanzplatz Deutschland.”
She holds a Master Degree in Law from the University of Vienna.
Experienced investor in technology and fintech industries; extensive M&A experience
Mr. Murphy joined Blackstone in 2021 and is a Managing Director in the firm’s Private Equity Group, where he focuses on investments in the technology and financial technology industries.
Prior to Blackstone, Mr. Murphy spent over eight years at Francisco Partners, a U.S.-based private equity fund that focuses on investments in the technology industry. While at Francisco Partners, Mr. Murphy was involved in the firm’s investments in Civitas Learning, Dynamo Software, eFront, Lucidworks and Operative.
Before joining Blackstone, Mr. Murphy worked at CPPIB in the Direct Investment Group and Morgan Stanley in the Investment Banking Division.
Mr. Murphy received a Bachelor of Commerce from University College Dublin where he graduated with First Class Honors.
James J. Murren
Seasoned executive in the entertainment and gaming industries; former Chairman of American Gaming Association; philanthropist and commitment to ESG
Mr. Murren was appointed to lead the Nevada COVID-19 Response, Relief and Recovery Task Force on March 22, 2020 by Governor Steve Sisolak.
He served on the National Infrastructure Advisory Council from December of 2013 to September of 2020, and has been a member of the Board of Trustees for Howard University since 2016.
Mr. Murren first joined MGM Resorts International in 1998 as the Chief Financial Officer and served as the former Chairman and CEO of MGM Resorts International from December 2008 to February 2020. He also served as Chairman of the American Gaming Association from 2014 to 2017 and was on the Board of Trustees of the Brookings Institution from 2011 to 2018.
In 2003, Mr. Murren co-founded the Nevada Cancer Institute, which was the official cancer institute for the state of Nevada until 2013. Mr. Murren is also a founding contributor to Nevada’s first Fisher House which provides housing for military and Veterans’ families, which was founded in February of 2016. He also served as a member of the Business Roundtable, an association of CEOs of leading U.S. companies. Mr. Murren received his Bachelor of Arts from Trinity College.
Long standing legal and regulatory expert in the multi-jurisdictional online and retail gambling industries
Ms. Stewart-Jones is a practicing UK lawyer who has specialized in assisting gambling companies and associated businesses since 1995 both in house and in private practice. She headed sector teams as a partner at BLP and DLA UK LLP, where she was able to leverage an international network to help support the burgeoning multi-jurisdictional online gambling industry from 2000-2013. From 2013 to 2015 she sat on the board of Playtech PLC, the LSE Main Market listed software house, becoming Deputy Chairman in 2014.
Ms. Stewart-Jones has maintained a solicitor’s practicing certificate for 33 years and continues to give legal advice to a wide portfolio of clients on a broad range of gambling related commercial and regulatory issues.
She holds an LLB from Queen Mary College, London and an LLM from Queen Mary, Kings, UCL and LSE (London inter-collegiate). She also holds a Personal Management Licence from the Gambling Commission.
Existing Paysafe Board Directors nominated to the post-merger Company Board are:
Additionally, five existing Paysafe board members have been nominated to retain their board positions post-merger:
• Philip McHugh, CEO, Paysafe
• Matthew Bryant, Managing Director, CVC
• Walter Macnee, Director
• Eli Nagler, Senior Managing Director, Blackstone
• Peter Rutland, Managing Partner, CVC
Paysafe and Foley Trasimene Acquisition Corp. II Business Combination Update
A special meeting of the Foley Trasimene stockholders has been scheduled for March 25, 2021, and the transaction is expected to close shortly thereafter subject to approval by Foley Trasimene stockholders and other customary closing conditions. Upon closing, the newly combined company will operate as Paysafe and trade on the New York Stock Exchange (NYSE) under the symbol “PSFE”.