Reuters — PayPal names Patel General Counsel Nov. 16, 2021
Archived source: Reuters — PayPal names Patel General Counsel Nov. 16, 2021. Captured from www.reuters.com.
Cited in: Bimal V. Patel
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A smartphone with the PayPal logo is placed on a laptop. REUTERS/Dado Ruvic Purchase Licensing Rights, opens new tab Summary Law Firms Louise Pentland said she will step down at end of December Bimal Patel will become PayPal' general counsel next year (Reuters) - PayPal Holdings Inc is bringing on a new top lawyer to succeed Louise Pentland, who will step down from her role as chief business affairs and legal officer at the end of the year, the company confirmed Tuesday. Pentland, who has led PayPal's legal functions for nearly seven years, announced her resignation on LinkedIn Tuesday. Bimal Patel, a former head of the financial advisory and regulatory practice at O'Melveny & Myers who held a senior U.S. Treasury Department post during the Trump administration, will be the company's new general counsel. Sign up here. Patel, who joined Treasury in 2017 and served as the agency's assistant secretary for financial institutions, is set to assume leadership of PayPal's legal team on Jan. 1. "I am stepping down to seek renewal and creating space to do that," Pentland wrote in her LinkedIn post. According to a PayPal spokeswoman, she will remain in her current role until Dec. 31 and will continue to serve as "a counselor and advisor" to the company through mid-2022. Paypal said in a Monday regulatory filing that as part of a severance agreement, it will pay Pentland a more than $2.5 million cash payment before she leaves the company next year. Pentland joined PayPal in 2015 after 16 years at Nokia Corp. According to Paypal's proxy statement filed in April, she earned nearly $10.1 million in total compensation last year. Read more: PayPal profit beats estimates, U.S. Venmo users can pay on Amazon from next year, opens new tab PayPal says it is currently not pursuing Pinterest acquisition, opens new tab Our Standards: The Thomson Reuters Trust Principles., opens new tab Purchase Licensing Rights Xiumei Dong Thomson Reuters Xiumei Dong covers legal industry news, with a focus on law firm strategy and growth, in-house counsel and the Washington, D.C., legal market. Reach her at Xiumei.Dong@thomsonreuters.com. Read Next / Editor's Picks agoLitigationcategory Lawyer for State Farm fined over AI hallucination in Los Angeles lawsuit agoLegal Industrycategory Law firm Morgan & Morgan touts $1 billion AI investment, plans to sell platform to other firms agoGovernmentcategory Trump ally John Eastman joins UPenn professor's legal team, citing 'despicable cancel culture' agoGovernmentcategory John Eastman asks US Supreme Court to undo disbarment over Trump election efforts September 12, 2026Governmentcategory Lawyer cites fake witnesses in murder case and blames ChatGPT September 11, 2026Legal Industrycategory Top Weil dealmaker to depart with M&A team for rival law firm Cravath September 11, 2026Governmentcategory Washington lawyer Goldstein asks US appeals court to overturn tax conviction September 11, 2026Litigationcategory Legal profession is ‘detrimental’ to mental health, say 41% of lawyers September 9, 2026Governmentcategory US judges' interns may accept money from law firms recruiting them, ethics panel says September 10, 2026Litigationcategory In-house counsel group accuses rival of training AI on its materials September 9, 2026Governmentcategory Legal AI startup Harvey reaches $15.5 billion valuation in new funding round agoGovernmentcategory US Senate elevates Ohio judge staunchly against abortion to federal bench agoWorldcategory FTC chair suspicious of calls for AI antitrust exemptions agoBusinesscategory BHP Port Hedland workers to seek arbitration over wage deal dispute agoBusinesscategory French unions strike across multiple sectors as budget proposal looms agoTransactionalcategory Otis CEO Marks to retire next year, succession search underway
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