Lending Club has announced that Sandeep Bhandari, Assistant Chief Credit Officer at Capital One Bank and Venture Partner, will join Lending Club as Chief Credit Officer later this month. Bhandari will assume responsibility for credit risk management across all products, replacing in that capacity Lending Club Chief Risk Officer Chaomei Chen, who will be retiring at the end of this year.
Lending Club CEO Renaud Laplanche complimented the services of Chaomei and welcomed Bhandari to the LC team:
“We’re also thrilled to welcome Sandeep as a key member of the executive team. In 15 years at Capital One Sandeep demonstrated his strategic abilities to launch new products, acquire quality customers, and develop growth strategies that led to accelerated growth of originations, while prudently managing credit risk and accurately forecasting credit performance. We’re glad that they’ll be able to work side by side for a time to ensure a smooth transition.”
“Lending Club truly has the potential to transform the traditional banking system,” said Bhandari. “I’m thrilled to join the team and look forward to helping the company continue to execute on its mission to make credit more affordable and investing more rewarding by growing its business on multiple fronts.”
Bhandari holds a B.Tech in Mechanical Engineering from the Indian Institute of Technology in Delhi and an MBA from the Indian Institute of Management in Ahmedabad.
“It’s been an honor and a pleasure to have been part of the team over the last four years and I am very proud of what we have accomplished,” said Chaomei Chen. “I wish continued success for Sandeep and the team.”