LendingClub Corporation, America’s leading online lending marketplace connecting borrowers and investors, today announced that Al Landon, Erin Selleck and LendingClub’s chief financial officer, Tom Casey, will join as the newest members of its Board of Directors at the completion of the acquisition of digital bank Radius Bancorp (“Radius”), which the company expects to occur on or around February 1, 2021, subject to completion or waiver of the remaining customary closing conditions.
Simultaneously, Dan Ciporin, former general partner at Canaan Partners, and Ken Denman, former president & chief executive officer of Emotient, have decided to resign from LendingClub’s Board of Directors, each effective at the completion of the acquisition of Radius.
In addition, Simon Williams has decided that he will step down at the conclusion of LendingClub’s 2021 annual stockholders meeting. With this decision Simon, who is a veteran financial services and fintech exec, is completing a long and dedicated service and leadership term with LendingClub that began in 2009.
The board transformation comes as LendingClub has received all the bank regulatory approvals necessary to complete its acquisition of Radius and become the first U.S. public neobank, poised to reimagine banking for everyday Americans.
“We were looking for new board members with the expertise and insights that will support us as we transform the company and embark on our next chapter of growth. We are excited to welcome Al and Erin to the board given their demonstrated success and wealth of experience in the financial services industry,” said Scott Sanborn, LendingClub’s CEO. “With Dan, Ken and Simon wrapping up their board tenure, I’d like to thank them personally for their support and belief in our mission to empower members on their path to financial success. I am extremely grateful for their commitment, guidance and partnership as we transformed LendingClub and wish them each well on their next endeavors.”
Read More: How the Trends of Today Affect Financial Institutions Tomorrow
