SAN FRANCISCO, Sept. 26, 2016 /PRNewswire/ -- Lending Club (NYSE: LC), the world's largest online marketplace connecting borrowers and investors, announced today that Russell S. Elmer has been named General Counsel, reporting to Scott Sanborn, President and Chief Executive Officer. Elmer will succeed Jason Altieri who has served as the Company's General Counsel for the past seven years.
Elmer, who was previously with Lending Club from 2012 to early 2014, brings more than 25 years of legal experience, most recently as Deputy General Counsel and Corporate Secretary at PayPal Holdings Inc. (NASDAQ: PYPL). As Lending Club General Counsel, Elmer will oversee all legal matters including corporate securities, M&A, corporate governance, government and regulatory affairs and litigation.
"I'm thrilled to welcome Russ back to Lending Club as General Counsel," said Scott Sanborn, President and CEO of Lending Club. "I believe his deep legal experience at the intersection of technology and finance as well as his hands-on knowledge of our business will allow him to be incredibly effective as we enter Lending Club's next phase."
Elmer has held a series of leadership roles including General Counsel at Pricelock and General Counsel at E*Trade. He was also a Partner at Gray Cary Ware & Freidenrich (now DLA Piper) where he spent nearly a decade.
"Working with regulators and policy makers, I believe Lending Club will continue to play a critical role in shaping the marketplace lending industry and delivering responsible products that meet the evolving needs of consumers, small businesses, community banks and investors," said Elmer. "I'm excited to be returning to Lending Club to build on the success the company has already achieved."
Elmer received a JD from the University of California, Berkeley, School of Law and a BA in Political Science and International Relations from Stanford University. He is a member of the State Bar of California.
Altieri will work with Elmer and the company to ensure a smooth transition. "For the past seven years, Jason has been integral to our success and growth, including guiding us through the initial public offering. We greatly appreciate his outstanding service throughout the company's history and his continued dedication to our business," said Scott Sanborn, President and CEO.
About Lending Club
Lending Club's mission is to transform the banking system to make credit more affordable and investing more rewarding. The company's technology platform enables it to deliver innovative solutions to borrowers and investors. We operate at a lower cost than traditional bank lending programs, so we're able to pass the savings on to borrowers in the form of lower rates and to investors in the form of solid returns. Lending Club is based in San Francisco, California. More information is available at https://www.lendingclub.com. Currently only residents of the following states may invest in Lending Club notes: AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, ME, MI, MN, MO, MS, MT, NE, NH, NJ, NV, NY, OK, OR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, or WY. All loans are made by federally regulated issuing bank partners.
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SOURCE Lending Club