LendingClub Company (NYSE: LC), the dad or mum firm of LendingClub Financial institution, America’s main digital market financial institution, as we speak introduced that Drew LaBenne has been named LendingClub’s subsequent Chief Monetary Officer (CFO).
To make sure a seamless transition, he’ll assume the obligations on September 1, 2022, from present CFO, Tom Casey, who shall be retiring however will proceed to help LendingClub in a non-executive capability by way of the tip of 2022. Mr. Casey may also be retiring from LendingClub’s Board of Administrators.
As CFO, LaBenne will lead LendingClub’s finance group and monetary actions together with accounting, monetary planning and evaluation, treasury, tax, and investor relations.
“Drew has in depth retail and industrial banking expertise at a number of the largest and most well-respected banks on this planet. He’s additionally fully aligned with the a number of methods we will use expertise to ship higher outcomes for shoppers in managing their cash,” stated LendingClub CEO, Scott Sanborn. “His acumen and expertise make him uniquely certified to assist lead LendingClub as we mix the innovation of a fintech with the working self-discipline of a digital financial institution.”
Mr. LaBenne was beforehand the CFO of Bakkt (NYSE: BKKT), a digital asset market. Previous to that he was CFO of Amalgamated Financial institution and Managing Director and CFO of JP Morgan Chase’s Enterprise Banking division. LaBenne additionally spent 17 years at Capital One Monetary the place he held quite a few positions together with CFO of Retail Banking and performed a key function in rising the banking franchise.
“I’ve been watching LendingClub’s ongoing and really profitable transformation from afar because it grew to become a nationwide digital financial institution final yr,” added Mr. LaBenne. “The corporate is combining the very best of each worlds – the expansion and agility of a fintech with the profitability and resilience of a financial institution. I’m excited to be becoming a member of an organization that’s redefining what banking can do for its prospects.”
LendingClub’s present CFO and member of the Board of Administrators, Tom Casey, shall be retiring from each positions efficient August 31, 2022, after a well-planned transition course of. Sanborn added, “In his six years on the Membership, Tom has captained our return to profitability and scale, helped our transformation to a digital financial institution, constructed an unimaginable finance mannequin and group and helped form the technique that the corporate will construct on for a few years to come back. I wish to thank Tom each personally and on behalf of the corporate for his unimaginable contributions to LendingClub.”