LendingClub has announced two new members for its board of directors in Faiz Ahmad and Kathryn Reimann, a press release said Tuesday (Aug. 2).
They’ll join officially Aug. 15.
In addition, Patricia McCord will be resigning from the company board after five years, as of Sept. 30.
Scott Sanborn, CEO of LendingClub, said Ahmad and Reimann both have “a wealth of experience” in consumer and financial services.
Ahmad has experience in “transforming the consumer experience for large brands” as CEO of Direct to Consumer at Optum, a subsidiary of United Health Group, and he also worked with Apple and Delta Airlines.
Reimann has worked for more than two decades in compliance risk management and bank regulation. She was chief compliance officer with Citibank and American Express, and is currently a professor at New York University School of Law and a regulatory adviser for Hummingbird Regtech and a senior adviser with Oliver Wyman.
“With Patty wrapping up her tenure with the board, I’d like to thank her personally and on behalf of the company for her support as we transformed the business from a loan marketplace to a powerhouse digital bank at scale,” Sanborn said. “I’m grateful for her counsel and wish her well on her future endeavors.”
In other news related to LendingClub’s hiring, the company has also named a new CFO in Drew LaBenne as of late July.
LaBenne used to be the CFO with Bakkt, a digital asset market, and he’ll take office on Sept. 1. He’s taking over for Tom Casey, the previous CFO, who is retiring.
“He is also completely aligned with the multiple ways we can use technology to deliver better outcomes for consumers in managing their money,” said Sanborn. “His acumen and experience make him uniquely qualified to help lead LendingClub as we combine the innovation of a fintech with the operating discipline of a digital bank.”