LendingClub (NYSE:LC) has appointed Stephen Cutler as a member of its Board of Directors. Cutler officially joined the board last week (March 23).
An attorney, Cutler recently served in various positions at Simpson Thacher & Bartlett LLP, including as the Global Head of the firm’s Government and Internal Investigation Practice. Prior to joining Simpson Thacher, Cutler was Vice Chairman of JPMorgan Chase & Co., after serving as the company’s General Counsel for nine years, including during the 2008-2009 financial crisis. Cutler also did a stint as the Director the Division of Enforcement at the SEC. At on point Cuter served on the board of FINRA.
Cutler will serve on both LendingClub’s Audit Committee and the Operational Risk Committee.
Cutler commented on his new position:
“LendingClub is a pioneer in their industry, and they are a great example of a Fintech that has scaled within a heavily regulated industry. I am deeply impressed by their commitment to serve their customers with innovative products, while maintaining a strong compliance and controls culture. I look forward to working with LendingClub as it navigates this next era of banking.”
LendingClub started its existence as a leading online lender but today it is one of a few federally chartered digital-only banks. The Fintech focuses on providing a full range of banking services with expertise in consumer credit.