Chinese marketplace lending platform Yirendai announced on Thursday it has appointed Dr. Yichuan Pei as its new Chief Credit Officer. According to the lender, Dr. Pei will be responsible for the over management of its credit department to ensure that the credit risk of loan portfolios on its platform is within its guidelines.
Yirendai reports that Dr. Pei has more than 26 years of experience in the financial industry from consumer lending risk management, credit product marketing management, asset-backed securities valuation in the U.S. Before joining Yirendai, Dr. Pei was Vice General Manager of Ping An Bank in Shanghai, China and Chief Risk Officer of Knowledge Decision Sciences in San Jose, California. Previously, Dr. Pei served as Senior or Executive Vice President at various banks in the United States, including Bank of America, JP Morgan Chase, Washington Mutual Bank, Providian Financial Services, and Fleet Boston Bank.
Speaking about Dr. Pei’s appointment, Yihan Fang, CEO of Yirendai, stated:
“Dr. Yichuan Pei is a highly regarded credit expert with extensive experience in the financial industry. We warmly welcome him to join our senior management team. With Dr. Pei assuming his roles as Chief Credit Officer, we are very confident to further enhance our market leading capabilities of credit underwriting and risk management. At the same time, we would like to express our sincere appreciation to Ms. Yiting Pan for her outstanding contribution to our risk management during her tenure. We wish her all the success for the new role with CreditEase in the U.S.”
Dr. Pei added:
“Yirendai is a leading financial technology company with proven track record and strong momentum. I’m excited to join the team to contribute to its credit risk management and support its business growth.”