Olayan America Corporation’s senior vice president for public equity, Robert G. Hottensen, Jr., was named to the board of directors of Obopay, Inc. along with K B Rajendran, senior vice president of Essar Global Limited.

Hottensen has been with New York-based Olayan America Corporation since 2005. He leads a team of analysts which advises on a wide range of potential investment opportunities. Prior to joining Olayan, Hottensen was a managing director at Goldman Sachs, heading their financial services research group. He is a recognized analyst in this field, who, over a 24-year career at Goldman Sachs, developed research insights and relationships across the banking, credit card and specialty financial services industries. He has received numerous top rankings in polls by American Banker, The Wall Street Journal and Institutional Investor. Hottensen is a graduate of Amherst College.

Obopay, a pioneering service provider for payments via mobile phones, also announced the closing of a $20 million fourth round of venture funding.

Carol Realini, CEO of Obopay, said, “The last nine months have included tremendous growth, with new Obopay features, the expansion of existing partnerships and now this latest round of funding and the addition of Robert and K B’s expertise to our board. We look forward to continuing to expand the mobile payments market in the U.S. and abroad.”