David Jaques

David Jaques was the first CFO of PayPal and is now a financial advisor.

David Jaques is the CFO at Greenough Consulting Group. Founder of Digitzs Solutions, Inc., David Jaques is Chairman for Digitzs Solutions, Inc., Chief Financial Officer of Greenough Consulting Group and Chief Financial Officer & Director at Bluedot Innovation, Inc. 

He is also on the board of Fortress Technologies, Inc. (Canada) and a Member of the Association for Financial Professionals, Inc. In the past, he occupied the position of Chief Financial Officer of 500 Startups Management Co LLC, Chief Financial Officer of BlueRun Ventures, Chief Financial Officer at Felicis Ventures Management Co. LLC, Chief Financial Officer & Director at Yinghong Guangda Technology Ltd., Chief Financial Officer for PayPal, Inc., Vice President of Barclays Capital, Inc., Senior Treasury Advisor at Barclays Bank Plc, Treasurer of SVB Asset Management and Treasurer & Senior Vice President at Silicon Valley Bank.


Career March 2008 – Present CFO Greenough Consulting Group Greenough Consulting Group is a Northern California based firm providing financial consulting and services to emerging and middle-market companies as well as to private equity firms. The firm’s interim CFOs and back-office staff support management teams with merger and acquisition due diligence, national and international expansion, restructuring, audit and IPO preparation, fund formation and other initiatives. 

Greenough Consulting Group also provides full-service human resource consulting ranging from management consulting to training and benefits. Greenough Consulting Group is celebrating 10 years in business; during that time, the firm has served over 400 companies and 90 private equity firms. Greenough Consulting Group enjoys close ties with the funding community and professional service providers in multiple disciplines around the globe. 15% of Greenough Consulting Group clients are international. November 2008 – February 2008 CFO BlueRun Ventures Created financial and administrative infrastructure for a newly established venture capital partnership. 
• Critical member of the management team that grew funds under management from $150 million to $1 billion in six years. 
• Established management company parent in the U.S. and subsidiaries in UK, Finland, Japan, Israel, China, Korea and India. 
• Created financial models for tracking and projecting fund performance (IRR), cash requirements, capital efficiency and tax compliance. 
• Primary contact for institutional investors, auditors, tax advisors and outside counsel. Established processes for quarterly and annual investor reports. 
• Established and managed processes for human resource management, including payroll, medical benefits, 401(k) and administration of carried interest. July 1999 – August 2000 CFO PayPal, Inc. Responsible for all financial and administrative functions of an internet startup company during its first two years of operations. 
• Worked closely with CTO to create the financial infrastructure for the PayPal product, including the banking and credit card interface. 
• Established budget planning, financial processes, procedures and accounting records in accordance with GAAP, arranged equipment lease financing and coordinated three rounds of private equity financing totalling $140 million. 
• Primary administrative contact with the Board of Directors, outside counsel, auditors and tax advisors. 
• Established all human resource functions, including employee benefits and administration of stock option plan. 
• Coordinated the merger of PayPal, Inc. with X.com Corporation resulting in a combined entity of over 500 employees at a $680 million valuation. October 1994 – July 199 Silicon Valley Bank Responsible for all Treasury functions of a $4 billion bank holding company and its subsidiaries. 
• Organized a registered public offering of $40 million in trust preferred shares. • Directed the management of a $1.5 billion fixed-income investment portfolio and established a $300 million interest rate hedging program, enhancing the company’s interest rate income by $150k annually. 
• Enhanced the monitoring of regulatory capital for the Bank and its parent company, including sensitivity analyses, balance sheet stress testing and modelling of projected income under various rate scenarios.


His vision can be found in a recent interview with Dinis Guarda: 

“I was born and raised in South London. I remember when I was finishing high school my dream was to become a teacher, a biology teacher but I ended up studying economics and business. My teachers helped me a lot in finding my career and my passions”. 

“It was right in the middle of the internet and the dotcom bubble and I was searching for a job and I found this little start-up called Paypal that drew my attention. I got a job there and we went on building a truly innovative and disruptive payment solution. And I have been involved in this start-up world ever since, doing different roles in different companies”. 

“Today there are so many exciting things going on and you need to take a look at it geographically. It is important to understand how people interact with banks today in different parts of the world. There are so many good online banks and payments have changed dramatically in recent years. What I see here in the US is lagging years behind than in other parts of the world. In terms of infrastructure, for example, in some places in Europe and even in the UK, most of these innovative ideas in payments and digital banking are quite developed while in the US they aren’t, or at least it isn’t well developed across the country. Nonetheless, COVID-19 has accelerated things greatly in the US. Social distancing, contactless and digital payments, e-commerce, etc have had a huge development in the last months and implementation is being made at a high speed”.

Recognition and Awards
David was the first CFO of PayPal and has since provided financial expertise and senior management to private equity firms (BlueRun Ventures) and banks.

David Jaques
Melbourne, Autralia
Financial advisor
Social Media
Thu Feb 29 2024

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