Peer-to-peer lending platform Prosper announced on Tuesday it has appointed former Chief Marketing Officer of J.P. Morgan, Claire Huang to its board of directors. According to Prosper, Huang has held senior leadership positions at various well-known financial services companies, which includes Bank of America, Fidelity Investments, and American Express. While speaking about Huang’s appointment, David Kimball, CEO of Prosper, stated:
“Claire is a highly regarded marketing executive with a track record of delivering strong results for major financial institutions and customer-focused brands. We’re thrilled to have her join our board, and look forward to leveraging her diverse perspective and expertise as we continue to enhance our customer experience and invest in our platform and products.”
Huang went on to add:
“Prosper’s consumer lending platform offers incredible benefits to people looking to borrow money at competitive rates and investors who want access to the consumer lending asset class. I think there is an exciting opportunity to build greater awareness of the company and its products, and I’m excited to work with David and the entire Prosper team to help drive the company’s growth.”
Last month, Prosper reported growth in both transaction revenue and loan originations for the third quarter of 2017. The online lender claimed the continued demand for personal loan product resulted in $822 million in loan originations through its platform, up 6% quarter-over-quarter and 164% year-over-year. Prosper also noted it also grew transaction fee revenue 5% quarter-over-quarter and 164% year-over-year and has completed $1.5 billion of securitization this year alone.