Former Wells Fargo Executive Joins LendingClub as Chief Lending Officer

LendingClub (NYSE: LC), the largest US marketplace lender, has appointed Ronnie Momen to become their Chief Lending Officer. According to LendingClub, Momen will oversee company’s credit strategy including the use of credit data, analytics, and products. Momen started with LendingClub today and is reporting directly to Steve Allocca, President of the online lender.

Momen was most recently at GreenSky, where he served as Chief Credit Officer. Before that, Momen served as Executive Vice President and Chief Credit Officer for Consumer Unsecured Products at Wells Fargo. He also held credit leadership positions with HSBC, most recently as EVP Head of Retail Risk – The Americas covering US, Canada, Brazil, Mexico and Argentina; and previously Discover Financial Services.

LendingClub CEO Scott Sanborn said they were thrilled to have Momen join the leadership team.

“Assessing risk is the heart of our business,” said Sanborn.  “It gives us the ability to offer access to affordable rates to borrowers and deliver quality returns to investors. In Ronnie, we’ve found the right person to lead our innovative efforts on credit forward as we continue to build a financial services ecosystem with LendingClub at its center.”

Momen said he was looking forward to leveraging the scale of LendingClub’s data and analytics to

“…further unleash the company’s potential and deliver on its mission of helping more people achieve financial success.”

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