LendingClub has made a series of executive moves to bolster consumer and commercial banking operations just months after its acquisition of Radius Bank.
The San Francisco company is promoting Ronnie Momen, previously its chief lending officer, to chief consumer banking officer. Momen will steer the retail-banking business forged from LendingClub’s $185 million purchase of Radius, a $2.4 billion-asset bank in Boston, which was
Momen has held credit-related roles at Wells Fargo and HSBC along with other fintechs like GreenSky and Credit Karma.
David Bolocan has been hired as senior vice president of deposits and payments. Bolocan was head of deposits for three years at BBVA USA, which was recently acquired by Pittsburgh’s PNC Financial Services Group.
Amber Carroll has been brought on as senior vice president of membership and life-cycle marketing. Carroll had been senior vice president of marketing at Freedom Mortgage, one of the largest home loan lenders in the U.S., and previously held marketing positions at TD Bank and HSBC.
LendingClub has also hired Jamie Armistead as vice president of product management. Armistead held a similar role at Early Warning Services, which runs the bank-owned person-to-person payments service Zelle. Before that he was head of digital channels at Bank of the West.
LendingClub, which was started in 2007, long specialized in consumer products like personal and auto loans. With the acquisition of Radius, it has reentered commercial banking. LendingClub had
Consumer loans, specifically personal loans, will “continue to accelerate” the company’s growth toward profitability, LendingClub CEO Scott Sanborn said in a press release announcing the changes Tuesday.
“The opportunity in front of us is massive, and we're firing on all cylinders with a clearly differentiated approach as the leading digital marketplace bank in the country,” Sanborn said.
