LendingClub names Drew LaBenne as new CFO

As CFO, LaBenne will lead LendingClub’s finance organization and finance activities, including accounting, financial planning and analysis, treasury, tax and investor relations.

“Drew has extensive commercial and retail banking experience at some of the largest and most respected banks in the world. He is also fully aligned with the many ways we can use technology to deliver better outcomes for consumers in managing their money.” he said. LendingClub CEO, Scott Sanborn. “His insight and experience make him uniquely qualified to help lead LendingClub as we combine the innovation of a fintech with the operational discipline of a digital bank.”

Mr. LaBenne was previously the CFO of Bakkt (NYSE: BKKT), a digital asset market. Prior to that, he was CFO of Amalgamated Bank and CEO and CFO of JP Morgan Chase’s business banking division. LaBenne also spent 17 years at Capital One Financial, where he held numerous roles, including retail banking CFO and played a key role in growing the banking franchise.

“I have been watching LendingClub’s continued and very successful transformation from afar since it became a national digital bank last year,” added Mr. LaBenne. “The company is combining the best of both worlds: the growth and agility of a fintech with the profitability and resilience of a bank. I am excited to join a company that is redefining what banking is can do for its customers.”

Current CFO of LendingClub and member of the Board of Directors, Tom Caseyhe will effectively retire from both positions August 31, 2022, after a well-planned transition process. Sanborn added: “In his six years at the Club, Tom has led our return to profitability and scale, helped our transformation to a digital bank, built an incredible finance model and organization and helped shape the strategy on which the company will be built for many years to come. I would like to thank Tom both personally and on behalf of the company for his incredible contributions to LendingClub.”

About LendingClub

LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC. LendingClub Bank is the leading digital marketplace bank in the US, where members can access a wide range of financial products and services designed to help them pay less when they borrow and earn more when they save. Based on over 150 billion cells of data and more 75 billion dollars in lending, our advanced credit decision and machine learning models are used throughout the customer lifecycle to expand seamless access to credit for our members, while generating compelling risk-adjusted returns for our investors in loans. Since 2007, more than 4 million members have joined the Club to help achieve their financial goals. To learn more about LendingClub, visit https://www.lendingclub.com.

CONTACT:
For investors: [email protected]
Contact with the media: [email protected]

SOURCE LendingClub Corporation

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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!