13 Feb, 2019, 10:00 ET
FRISCO, Texas, Feb. 13, 2019 /PRNewswire/ -- Meritize, a leading provider of financing solutions for skills-based education and workforce development, today announced the appointment of Eugene Ostrovsky as the company's new chief financial officer. Meritize co-founder and former CFO Phillip Stegner will take on the newly created role of chief operations officer.
Ostrovsky is a seasoned finance professional with considerable experience in structured transaction execution, loan portfolio management and disposition channel development of student and unsecured consumer loans. As CFO for Meritize, Ostrovsky will manage all financial operations and leverage his expertise to develop new opportunities for the company's continued growth trajectory.
Prior to joining Meritize, Ostrovsky most recently served as head of capital markets for Cross River Bank, where he was responsible for management of the consumer loan portfolio, and Laurel Road (formerly DRB), where he established a securitization disposition channel which achieved AAA ratings from both Moody's and DBRS. He also spent several years at Morgan Stanley as a vice president with a focus on student loan asset-backed issuance, following a period at PricewaterhouseCoopers.
In the newly created position of COO, Stegner will be responsible for management of all daily business operations as well as long-range planning and development to ensure the company meets revenue goals and delivers on its mission. Together with co-founder and CEO Chris Keaveney, Stegner was instrumental in launching Meritize and overseeing development of the company's proprietary merit-based lending platform. He also led activity for the company's successful Series Seed and Series A fundraising rounds.
Keaveney said the addition of Ostrovsky and creation of the COO position is a double win for the company. "Phillip has been an invaluable asset as CFO, establishing the company's financial foundation and positioning us for long-term success. Allowing him to bring his full attention and vast talents to optimize our operations will be hugely beneficial to accommodate our expansion plans. Likewise, Eugene will play an integral role in strengthening our existing merit-based lending platform and, importantly, in formulating and executing on the next phase of our capital strategy. His innovative financial solutions and ability to develop strategic partnerships will serve us well," he said.
Since it was founded in January 2017, Meritize has partnered with more than 200 schools to provide skills-based training to students pursuing careers in various sectors, including industrial, technology and healthcare. The Meritize proprietary merit-based lending platform goes beyond FICO scores and uses a person's academic, military and work achievements to enhance credit evaluation and improve loan options and performance outcomes.
Ostrovsky holds a B.S. in business management from St. Francis College and an MBA from St. John's University.
Stegner graduated magna cum laude from Rice University with a B.A. in economics, political science and policy studies. He has a master's degree in public policy from George Washington University and an MBA from Stanford University.
Meritize is a leading provider of financing solutions for skills-based education and workforce development. The company's proprietary merit-based lending program goes beyond traditional underwriting and uses an individual's academic, military and work achievements to enhance credit evaluation and expand funding opportunities, resulting in increased access to educational funding and improved outcomes. In addition to its merit-based lending platform for students and training partners, Meritize works directly with employers on customized talent development solutions to help meet the demand for qualified workers. Frisco, TX-based Meritize is privately held. For more information visit www.meritize.com.
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