New appointments bring decades of experience scaling consumer and digital businesses
Company completes board roster to be effective at the closing of the company’s public listing
MoneyLion Inc., an award-winning, data-driven, digital financial platform which recently announced it would become a public company via a merger with special purpose acquisition company, Fusion Acquisition Corp., announced three new independent director appointments to the company’s Board of Directors (“Board”), completing the Company’s Board roster. Matt Derella, global vice president of revenue and content partnerships at Twitter, Lisa Gersh, co-founder of Oxygen Media and a veteran of public company boards, and Michael Paull, president of Disney+ and ESPN+, will join the MoneyLion Board effective at the closing of the business combination transaction. Jeff Gary from Fusion Acquisition Corp. will also join the Board.
“Matt, Lisa, Michael and Jeff are invaluable additions to our team given their extensive expertise engaging consumers across a multitude of platforms, scaling businesses and building world-class brands,” said Dee Choubey, MoneyLion co-founder and CEO. “I look forward to working with each of them to push MoneyLion further and deliver on our mission to empower hard-working Americans to take control of their finances and revolutionize the way the world manages money.”
The post-merger MoneyLion Board, led by Chairman John Chrystal, will be comprised of ten directors, nine of whom are independent directors as defined in the NYSE listing standards and applicable SEC rules. This includes Derella, Gary, Gersh, and Paull along with Annette Nazareth, former SEC Commissioner, Ambassador Dwight Bush Sr., former Ambassador to Morocco, and existing directors Choubey, Chrystal, vice chairman of The Bancorp, Inc., Greg DePetris, fintech and securities industry veteran, and Chris Sugden, managing partner, Edison Partners.
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Matt Derella
Derella is a technology expert with extensive experience leading companies through business and cultural transformations. Since joining Twitter in 2012, Derella has overseen the company’s revenue performance, content partnerships, country operations and customer service. Prior to joining Twitter, Derella spent five years at Google holding various leadership roles and transforming its business, which included taking YouTube into the television marketplace with the platform’s first Brandcast event. Derella holds a B.A. in English from Georgetown University and is currently on the boards of She Runs It and Mobile Marketing Association.
“It’s an exciting time to be joining MoneyLion as the company continues to deliver on its strategy to use technology and mobile banking to improve the way people interact with money,” said Derella. “I’m eager to offer my expertise to help MoneyLion stay at the forefront of how consumers are engaging across digital channels and help bring new capabilities to market at the intersection of content, data analytics, and financial services advice and solutions.”
Jeff Gary
Gary has significant experience in the financial services space spanning three decades covering M&A, portfolio management, corporate boards, private equity and SPAC transactions. He is currently Board Director and CFO of Fusion Acquisition Corp. and Fusion Acquisition Corp. II and serves as an Advisor/Board Member to four fintech companies: DealBox, Tokenplace, Arca and Total Network Service. Previously, he was a Senior Portfolio Manager at BlackRock, Avenue Capital Group, Koch Industries and AIG. A Certified Public Accountant, Gary earned an M. B. A. in Finance from Northwestern’s Kellogg School of Management and a B. S. in Accounting from Penn State University.
“MoneyLion has built a differentiated technology platform that has the power to revolutionize the way people bank, invest and manage their money,” said Gary. “This a dynamic era for financial services with big disruption coming in fintech and the next steps of our journey will no doubt continue to propel this industry forward.”
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Lisa Gersh
Gersh is an experienced business and brand builder with more than three decades of experience across media, consumer goods and legal industries. Gersh co-founded and served as president and chief operating officer of Oxygen Media, president and chief executive officer of Martha Stewart Living Omnimedia, chief executive officer of goop.com, and as chief executive officer of Alexander Wang. Prior to leading these organizations, Gersh began her career at Debevoise & Plimpton LLP and Friedman Kaplan Seiler & Adelman LLP.
She currently serves on the board of several public companies including Hasbro and Pershing Square Tontine Holdings, where she chairs both companies’ compensation committees, and Establishment Labs Holdings, where she chairs the nomination and governance committee. Gersh also serves on the board of directors for the Bail Project and is a member of the Retail Advisory Board of Samsung Electronics America. Gersh holds a B.S. in political science and economics from State University of New York Binghamton and received her Juris Doctor degree from Rutgers University School of Law.
“MoneyLion is at a pivotal moment amid a dynamic evolution in how consumers are engaging with brands and content to support their everyday needs, which is an area of business I’m very passionate about,” said Gersh. “I look forward to working alongside the team to innovate on how money and life come together for millions of Americans who need the right resources and tools to be successful in all aspects of their lives.”
Michael Paull
Paull is a seasoned corporate leader with over two decades of experience in the entertainment, digital, and media space. Since joining The Walt Disney Company, Paull has played a key role in the Company’s shift to streaming with launches of the flagship Disney+ and ESPN+ streaming services. Before becoming the president of Disney+ and ESPN+, Paull served as the chief executive officer and president of BAMTECH Media, vice president at Amazon, executive vice president of Sony Music Entertainment, and as senior vice president of Fox Entertainment Group. Prior to holding leadership positions at these organizations, Paull began his career at Time Warner, eMachines Inc, and Boston Consulting Group. Paull holds a B.S. from the University of California and received an M.B.A. from Harvard Business School.
“Consumer behaviors and media consumption continue to change rapidly and that presents great opportunities for disruption in financial services with innovators like MoneyLion,” said Paull. “We witnessed a similar revolution in the entertainment industry, and I want to apply that experience to help MoneyLion continue to push the boundaries of what’s possible when you apply technology to help empower people to improve their finances.”
MoneyLion and Fusion Acquisition Corp Business Combination Update
MoneyLion remains on track to complete its previously announced merger with Fusion Acquisition Corp. in July of 2021, subject to approval by the Fusion stockholders and other customary closing conditions. Upon closing, the newly combined company will operate as MoneyLion and trade on the New York Stock Exchange (NYSE) under the symbol “ML”.
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