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Bango jumps as it appoints former Nokia exec as new COO

Paul Larbey previously served as chief executive of streaming tech firm Velocrix, which was folded into Nokia in 2016 before being spun out last year

In his new role at Bango, Larbey will be responsible for the Operations, Customer Delivery and Customer Success teams

Bango plc (LON:BGO) shares jumped in early deals Wednesday after it appointed Paul Larbey, a former executive from Finnish telecoms giant Nokia, as its new chief operating officer.

Larbey joins Bango from his previous role as chief executive of streaming technology group Velocrix, which he led through its integration with French telecoms firm Alcatel-Lucent before it was acquired by Nokia in 2016, after which in 2018 he led Velocrix’s spin-out from the firm into a pure-play streaming company.

WATCH: Bango sets out growth strategy after appointment of former Nokia executive

In his new role at mobile commerce group Bango, Larbey will be responsible for the Operations, Customer Delivery and Customer Success teams to scale the Bango Marketplace that was launched in December.

“With over 20 years of experience in the Telecoms market, having held leadership positions in Cray Communications, Lucent, Alcatel-Lucent and Nokia, Paul has a strong track record of successfully bringing new technologies to market”, Bango said.

Ray Anderson, Bango's chief executive, added: "Paul comes to the Bango team with years of experience providing vital technology to industry leaders. His passion and track record in driving growth and transformational change align to the creation of an ecosystem where merchants and payment providers converge, grow and thrive."

Shares were up 3.7% at 84p.

Quick facts: Bango PLC

Price: 150 GBX

Market: LSE
Market Cap: £111.61 m

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