Lending Club, a company which operates a peer to peer lending marketplace, has hired Joseph Toms as a new managing director of Lending Club’s investment operations.
“We continue to grow the Lending Club team, adding key people that will help sustain and accelerate our growth. Joe’s extensive investing background will be a boon to Lending Club as we grow our investor products and services and reach new categories of investors,” said Renaud Laplanche, CEO of Lending Club in a statement.
Mr. Toms previously was the managing principal of Hilspen Capital Management, a provider of asset market research to institutional investors. Toms had also worked as a director London-based RAB Global Mining and Gold funds.
“I am thrilled to join the Lending Club team,” said Toms. “Lending Club is leading the way in helping reduce the debt burden on American consumers while providing strong returns for investors. Over the past three years and through incredibly difficult economic conditions the company has demonstrated they can resolve structural inefficiencies in the market and generate savings for borrowers and returns for investors.
Lending Club is an online platform that enables the issuance of and investment in consumer loans. Lending Club brings together investors and creditworthy borrowers — eliminating the cost and complexity of traditional bank lending — to offer borrowers better rates and investors better returns. Lending Club was recently recognized as one of the 20 “Breakthrough Ideas for 2009” by Harvard Business Review, has been nominated for “Top 100 Innovators” by The Industry Standard, is on the JMP Hot 100 list, and the AlwaysOn Global 250 Top Private Companies list. In addition Lending Club won the Webby Award in 2008 for the “Best Banking Website”. Founded in 2006, Lending Club is headquartered in Redwood City, CA. More information is available at: http://www.lendingclub.com.
