LendingClub Appoints Ronnie Momen as Chief Lending Officer

Former GreenSky and Wells Fargo Executive Brings Two Decades of Consumer Credit Experience Driving Growth and Innovation

News provided by

LendingClub Corporation

Jul 16, 2018, 16:06 ET

SAN FRANCISCO, July 16, 2018 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), America's largest online lending marketplace connecting borrowers and investors, today announced that it has selected seasoned consumer credit veteran Ronnie Momen to serve as the company's Chief Lending Officer. Momen will oversee LendingClub's credit strategy including the use of credit data, analytics and innovative products to extend LendingClub's lead in the industry by continuing to unleash the power of the marketplace to offer affordable rates to borrowers and deliver quality returns to investors.

Ronnie Momen, Chief Lending Officer at LendingClub

"We are thrilled to have Ronnie join the leadership team. He brings deep experience in consumer credit strategies and using data insights to drive value and responsible growth," said Scott Sanborn, CEO of LendingClub. "Assessing risk is the heart of our business. It gives us the ability to offer access to affordable rates to borrowers and deliver quality returns to investors. In Ronnie, we've found the right person to lead our innovative efforts on credit forward as we continue to build a financial services ecosystem with LendingClub at its center."

Momen brings more than 28 years of experience developing innovative, forward-looking and collaborative credit organizations. He joins LendingClub from GreenSky, where he served as Chief Credit Officer.

"LendingClub pioneered the use of technology and the marketplace model to deliver access to affordable credit," said Momen. "I'm looking forward to working with the team to continue leveraging the scale of LendingClub's data and analytics to further unleash the company's potential and deliver on its mission of helping more people achieve financial success."

Prior to GreenSky, he served as EVP and Chief Credit Officer for Consumer Unsecured Products at Wells Fargo, where he was responsible for building the risk capabilities to transform the Card and Private Label product lines and drove substantial growth. He has also held credit leadership positions with HSBC, most recently as EVP Head of Retail Risk – The Americas covering US, Canada, Brazil, Mexico and Argentina; and previously Discover Financial Services.

Momen joins LendingClub effective July 16, 2018 and will report directly to President Steve Allocca as part of the company's executive team.

About LendingClub
LendingClub was founded to transform the banking system to make credit more affordable and investing more rewarding. Today, LendingClub's online credit marketplace connects borrowers and investors to deliver more efficient and affordable access to credit. Through its technology platform, LendingClub is able to create cost efficiencies and passes those savings onto borrowers in the form of lower rates and to investors in the form of solid returns. LendingClub is based in San Francisco, California. Currently, residents of the following states may invest in LendingClub notes: AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, ME, MD, MI, MN, MO, MS, MT, ND, NE, NH, NJ, NV, NY, OK, OR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, or WY. All loans are made by federally regulated issuing bank partners. More information is available at https://www.lendingclub.com.

SOURCE LendingClub Corporation