Aaron Vermut has resigned as chief executive of Prosper Marketplace, according to a report in The
Vermut stepped down last week but will remain a director at the San Francisco-based online lender, according to the report, which cites unnamed sources. David Kimball, Prosper’s chief financial officer since March, has been promoted to CEO, the report said.
Vermut has served
Prosper and other marketplace lenders have struggled mightily this year as
Earlier this year, Prosper announced plans to cut more than 25% of its staff, citing declining loan volume and revenue. At the time, Vermut said he would
Lending Club, a key competitor, abruptly replaced its CEO earlier this year, amid allegations that top executives falsified loan documents, and later announced that it had laid off roughly 12% of its workers. Another online consumer lender, Avant,
A call to a Prosper spokeswoman was not immediately returned.