The agreed merger of mobile phone maker Motorola Mobility into search engine Google has led to the first departure from the former’s corporate venturing group with Harshul Sanghi (pictured) joining credit card company American Express (Amex).
Previously managing director of North American venture activities for Motorola Mobility for six years, Sanghi will lead Amex’s Enterprise Growth Group’s new office in Silicon Valley, California, US, which is expected to open later this year.
The Enterprise Growth Group is a business unit within Amex for alternative mobile and online payment services beyond the traditional card and travel businesses and Sanghi will build partnerships with the local technology and venture communities.
Dan Schulman, president of Enterprise Growth at American Express, which was set up last year and has just launched its first payments product in Serve, said: "Silicon Valley is home to countless technology companies and venture firms who are important to our long term success."
Sanghi added: "The payments industry is experiencing a significant transformation. Strategic partnerships with local start-ups will allow American Express to leverage emerging technologies, keep pace with rapid changes in consumer behaviour, and retain our strong leadership position."
Before joining Motorola, which split into Motorola Solutions and Motorola Mobility in January, Sanghi was vice-president of business development at Ucentric Systems, later acquired by Motorola.
Google agreed to buy Motorola Mobility in the summer but it remains unclear what will happen to the rest of its Ventures group led by Wallace Pai. Pai said: "Harshul made significant contributions to Motorola Ventures over the years. I wish him the best and look forward to continue working with him. We share a lot of common interests."
He added that Yves Raymond would join Ventures after working in corporate business development.