Appointments to take effect following completion of the company’s public listing
MoneyLion, 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 the appointments of The Honorable Annette Nazareth, senior counsel at Davis Polk & Wardwell, and Ambassador Dwight Bush Sr., chief executive officer of DL Bush & Associates, to the company’s Board of Directors. Both appointments will be effective at the closing of the business combination transaction.
Amid well-established careers in the legal and financial services sectors, both served the United States as presidential appointees – Ms. Nazareth as commissioner of the U.S. Securities and Exchange Commission (SEC) and Ambassador Bush as U.S. ambassador to the Kingdom of Morocco.
“We are honored to welcome Annette and Dwight to the MoneyLion team,” said Dee Choubey, MoneyLion co-founder and CEO. “They bring unmatched expertise in the regulatory, governance, and business aspects of the consumer finance and investment industries, which are invaluable to our team. I look forward to their guidance and working together as we continue to deliver on our mission to use the power of technology to help millions of hard-working Americans take control of their finances.”
Ms. Nazareth brings deep knowledge of the dynamics of financial markets to MoneyLion, having been a key player in U.S. financial services regulatory reform and policymaking for much of her 40-year career. In 2005, she was appointed an SEC commissioner by President George W. Bush, where she worked on numerous groundbreaking initiatives, including execution quality disclosure rules, implementation of equities decimal pricing, short sale reforms, corporate debt transparency rules and modernization of the national market system. She held several positions over the course of a decade at the SEC, including as director of the Division of Market Regulation (now the Division of Trading and Markets) and as senior counsel to the chairman and interim director of the Division of Investment Management.
Ms. Nazareth currently serves as senior counsel at Davis Polk & Wardell, where she led the firm’s Trading and Markets practice as a partner of the firm for more than a decade. She holds an A.B. in history and economics from Brown University and received her J.D. from Columbia Law School.
“I’ve spent my career working to ensure that the financial services available in this country serve the interests of everyone and it was important for me to find a company that shares that mission,” said Ms. Nazareth. “Having worked on the regulatory side for many years, it feels like a natural progression to now become more directly involved in the solutions that can have a meaningful and positive impact on the financial journeys of millions of people.”
Ambassador Bush served as U.S. ambassador to the Kingdom of Morocco under President Barack Obama from 2014 to 2017, following decades as an executive in the financial services industry. He started his career at Chase Manhattan Bank where he focused on international corporate banking and corporate finance assignments in Latin America, Asia, and the Middle East. He served as a vice president of corporate development at Sallie Mae Corporation, then as a principal at Stuart Mill Capital, LLC, and vice president and chief financial officer at SatoTravel Holdings, Inc. He was also president and CEO of Urban Trust Bank and affiliated companies, and president of UTB Education Finance, LLC from 2006 through 2008. In 2020, Ambassador Bush became a Trustee of Goldman Sachs Trust, fiduciary for Goldman Sachs’ multi-hundred-billion-dollar mutual fund business.
Ambassador Bush founded DL Bush & Associates, a Washington, DC-based strategy and business advisory firm, and currently serves as its chief executive officer. He has served on the boards of Urban Trust Bank Holdings, UTB Education Finance, LLC, U.S. Education Finance, LLC, and Urban Cableworks, and was a director of JER Investors Trust Inc. He holds a B.A. in government from Cornell University.
“The financial services landscape is rapidly evolving and the capabilities MoneyLion is bringing forward are critical to increasing access and engagement in personal finance, particularly among traditionally underserved communities who have some of the greatest needs,” said Ambassador Bush. “I look forward to working with the team to help take the company to its next level and in doing so, help define the next chapter of banking and investing for all Americans.”
MoneyLion remains on track to complete its previously announced merger with Fusion Acquisition Corp., subject to regulatory and shareholder approvals 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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