Crowdfunding platform, RealtyShares, announced on Monday that it has appointed Arash Sotoodehnia as its new chief credit officer. Sotoodehnia will be responsible for managing RealtyShares’ risk analytic framework, policies and guidelines. He brings nearly two decades of experience in the financial services industry to the role, with his recent position as head of risk policy and controls at Citi Mortgage.
CEO of RealtyShares, Nav Athwal, stated:
“Given Arash’s prior experience leading risk at firms such as Citi and Fannie Mae, I believe he will be very impactful not only to RealtyShares but also the entire industry. As we continue to build the leading online marketplace for real estate investing, our priorities include increased automation through technology and product improvements, greater liquidity through self-directed individual investors as well as institutions and more intelligent credit modeling to enhance our ability to address market- and asset-level risk. With the addition of Arash to the team, we have an amazing leader to really build the credit side of our business, which we believe will, in turn, attract additional liquidity from a diverse set of investors.”
“We’re disrupting an entire industry and it’s always very exciting to be the vanguard. My job is to determine how we articulate the risk and implement policies and procedures in a way that’s innovative while adding value for our investors, sponsors and RealtyShares itself.”
He went on to reveal why he decided to join the crowdfunding industry:
“RealtyShares and other funding platforms have been able to develop and deploy modern technology to disrupt the traditional pricing and bring efficiency to the market for private real estate deals. There is still room to experiment and try different ways of doing things, to create a process or an execution plan that is efficient, adds value to our investors and sponsors, and is totally novel.”
In regards to taking the position at RealtyShares, Sotoodehnia added:
“In terms of innovation, RealtyShares has proven itself as a groundbreaker. That forward-thinking mindset, paired with the prospect of a new challenge and an opportunity to once again work on a small innovative team, ultimately lead me to accept the position as Chief Credit Officer.”