Former Vice Chairman and General Counsel of
JPMorgan Chase & Co. Brings Decades of Banking Experience to
the Board
SAN
FRANCISCO, March 27, 2023 /PRNewswire/ -- LendingClub
Corporation (NYSE: LC), the parent company of LendingClub Bank,
America's leading digital marketplace bank, today announced that
Stephen Cutler has joined as the
newest member of its Board of Directors, effective March 23, 2023.
"We are thrilled to have Steve join our board as we navigate the
current environment and position ourselves for our next phase of
growth," said Scott Sanborn, CEO of
LendingClub. "Steve's deep expertise in banking, and financial
services more broadly, will prove valuable as we continue to scale
our digital marketplace bank with products that are smart, simple,
and rewarding."
Mr. Cutler has extensive experience in the banking and financial
services industry. Most recently he has served in leadership
positions at Simpson Thacher & Bartlett LLP, including as the
Global Head of the firm's Government and Internal Investigation
Practice.
Prior to joining Simpson Thacher & Bartlett LLP, Mr. Cutler
was Vice Chairman of JPMorgan Chase & Co., after serving as the
company's General Counsel for nine years, including during the
2008-2009 financial crisis. Earlier in his career, Mr. Cutler
served as Director of the Securities and Exchange Commission's
Division of Enforcement.
"LendingClub is a pioneer in their industry, and they are a
great example of a Fintech that has scaled within a heavily
regulated industry," said Mr. Cutler. "I am deeply impressed by
their commitment to serve their customers with innovative products,
while maintaining a strong compliance and controls culture. I look
forward to working with LendingClub as it navigates this next era
of banking."
Mr. Cutler also serves on the board of The Metropolitan Museum
of Art, and has previously served on the boards of the Financial
Industry Regulatory Authority (FINRA), and the National Women's Law
Center. He will serve on LendingClub's Audit Committee and the
Operational Risk Committee.
About LendingClub
LendingClub Corporation (NYSE: LC) is the parent company of
LendingClub Bank, National Association, Member FDIC. LendingClub
Bank is the leading digital marketplace bank in the U.S., where
members can access a broad range of financial products and services
designed to help them pay less when borrowing and earn more when
saving. Based on more than 150 billion cells of data and over
$80 billion in loans, our advanced
credit decisioning and machine-learning models are used across the
customer lifecycle to expand seamless access to credit for our
members, while generating compelling risk-adjusted returns for our
loan investors. Since 2007, more than 4.5 million members have
joined the Club to help reach their financial goals. For more
information about LendingClub, visit
https://www.lendingclub.com.
CONTACT:
For Investors: IR@lendingclub.com
Media Contact: Press@lendingclub.com
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SOURCE LendingClub Corporation