REDWOOD CITY, California, Sept. 16, 2015 / PRNewswire — Omidyar Network announced today that Lorraine McDonough will join the philanthropic investment firm as a partner based in Redwood City. McDonough will serve on the leadership team that guides the organization and will oversee Omidyar Network’s investment management, legal, and finance functions.
“We are delighted to have a talent of Lorraine’s caliber join Omidyar Network,” said Omidyar Network Managing Partner Matt Bannick. “Her considerable investing and M&A experience will be a tremendous asset in leading our investment management process, and her personal integrity demonstrates a strong alignment with our values and mission. Lorraine will be an excellent addition to our team.”
McDonough’s accomplished career most recently includes serving as vice president of corporate development at eBay, where she led the $75 billion separation of eBay and PayPal. Additional accomplishments in that role include completing more than 40 M&A transactions with an aggregate value of $14 billion and managing an investment portfolio of more than $1 billion. Prior to eBay, McDonough held similar positions at Charles Schwab & Co. and Liberate Technologies, and was vice president and counsel at Credit Suisse First Boston, senior corporate counsel at Oracle, and an associate at Shearman & Sterling in New York City.
McDonough holds a J.D. from University of Pennsylvania and a B.S. in business administration from Georgetown University.
ABOUT OMIDYAR NETWORK
Omidyar Network is a philanthropic investment firm dedicated to harnessing the power of markets to create opportunity for people to improve their lives. Established in 2004 by eBay founder Pierre Omidyar and his wife Pam, the organization invests in and helps scale innovative organizations to catalyze economic and social change. Omidyar Network has committed more than $849 million to for-profit companies and non-profit organizations that foster economic advancement and encourage individual participation across multiple initiatives, including Consumer Internet & Mobile, Education, Financial Inclusion, Governance & Citizen Engagement, and Property Rights. To learn more, visit www.omidyar.com and follow on Twitter @omidyarnetwork #PositiveReturns.