LendingClub Selects Drew LaBenne as New CFO

NYSE-listed LendingClub Corporation announced yesterday that the company has appointed Drew LaBenne, the former CFO at Amalgamated Bank, as its new Chief Financial Officer. The appointment of LaBenne will be effective from 1 September 2022.

In his new role, LaBenne will be responsible for the smooth execution of LendingClub’s financial activities. He joins the company from Bakkt where he worked as the Chief Financial Officer for more than a year. Previously, he served in the position of CFO at Amalgamated Bank for approximately six years.

"Drew has extensive retail and commercial banking experience at some of the largest and most well-respected banks in the world. He is also completely aligned with the multiple ways we can use technology to deliver better outcomes for consumers in managing their money," said LendingClub’s CEO, Scott Sanborn. "His acumen and experience make him uniquely qualified to help lead LendingClub as we combine the innovation of a fintech with the operating discipline of a digital bank."

As CFO, LaBenne will take care of LendingClub’s wide range of financial activities, including treasury, taxation and investor relations.

Professional Experience

In his professional career of almost two decades, LaBenne worked with JPMorgan. At Capital One Financial, he spent more than seven years and held several senior-level positions, including the CFO of Retail Banking.

"I have been watching LendingClub's ongoing and very successful transformation from afar since it became a national digital bank last year," LaBenne added. "The company is combining the best of both worlds: the growth and agility of a fintech with the profitability and resilience of a bank. I am excited to be joining a company that is redefining what banking can do for its customers."

By 31 August 2022, the company’s current CFO, Tom Casey will retire from his position. “In his six years at the Club, Tom has captained our return to profitability and scale, helped our transformation to a digital bank, built an incredible finance model and organization, and helped shape the strategy that the company will build on for many years to come,” Sanborn highlighted.