LendingClub (LC) Announces New Appointments to Accelerate Digital Marketplace Bank Strategy

LendingClub Corporation (NYSE: LC) today announced promotions and new hires to accelerate the transformation of LendingClub Bank, its wholly-owned banking subsidiary, to America's leading digital marketplace bank. The company has promoted Ronnie Momen to serve as its first Chief Consumer Banking Officer and hired David Bolocan to serve as the Senior Vice President of Deposits and Payments, Amber Carroll to serve as the Senior Vice President of Membership & Lifecycle Marketing, and Jamie Armistead to serve as the Vice President of Product Management.

Now that LendingClub has completed its acquisition of Radius Bank, its business will expand beyond consumer core lending products (personal, auto and purchase finance loans) to include commercial loans and deposits.

"Consumer loans – and Personal Loans in particular – has been the growth engine that has enabled us to become one of the largest fintechs in the country and will continue to accelerate our growth as we increase market share and drive towards profitability," said Scott Sanborn, CEO of LendingClub. "As we prepare for our next chapter of growth, I can think of no one better than Ronnie to lead our consumer business forward."

Previously, Momen served as Chief Lending Officer for the company, overseeing credit strategy including the use of credit data, analytics and innovative products to drive responsible growth for the business. Momen brings more than 30 years of experience developing innovative, forward-looking and collaborative credit organizations at both big banks, such as Wells Fargo and HSBC, as well as fintechs, such as GreenSky and Credit Karma.

"We're pleased to also welcome David, Amber and Jamie to LendingClub," Sanborn continued. "David's strategic thinking and extensive hands-on experience managing retail banking products will prove invaluable as we grow. Additionally, with such a breadth of consumer financial services marketing experience in, we're thrilled to have Amber at the helm leading our membership experience. Lastly, coming to us with expertise across banking products and digital channels, along with product management experience and design-first thinking, we are excited to add Jamie to the team. 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."

The new Senior Vice President of Deposits and Payments, David Bolocan, joins the company from BBVA USA, where he has been the Head of Deposits and Segments for the last three years. Bolocan has more than 25 years of executive experience managing Retail products, including deposits, credit cards, and secured and unsecured loans for both consumer and commercial businesses. Before BBVA USA, he was Head of Retail Banking Solutions at Verisk Analytics a New York consulting firm specializing in the banking and payments space. Bolocan joined LendingClub Bank on June 2.

The new Senior Vice President of Membership & Lifecycle Marketing, Amber Carroll, joins the company from Freedom Mortgage where she served as the SVP of Digital Marketing for the last year and half. During her tenure there, Carroll led the development of digital acquisition and retention programs, website strategy, and digital experience helping secure Freedom's position as a top 5 mortgage originator. Before Freedom Mortgage, she held positions in marketing and product at TD Bank, Barclaycard UK, and HSBC. Carroll will join LendingClub Bank on June 14.

The new Vice President of Product Management, Jamie Armistead joins the company from Zelle where he served as the Vice President, Business Line Leader influencing strategy and overseeing product management. Prior to this role, Armistead was head of Digital Channels at Bank of the West where he was able to transform their mobile and online capabilities as well as bring to market several award-winning services. Prior to joining Bank of the West, Jamie spent eleven years in Digital Channels at Bank of America. Armistead joined LendingClub Bank on May 17.

More details about the executive team at LendingClub can be found at https://www.lendingclub.com/company/leadership.

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