SIOUX FALLS, S.D., Aug. 20, 2015 /PRNewswire-USNewswire/ -- ReliaMax, the nation's leading financial technology company insuring, servicing and originating private student loans made by banks, credit unions and alternative lenders, today announced that Jonathon Albright has joined the ReliaMax team as Chief Financial Officer of ReliaMax Holding Company. He will have primary responsibility for leading the financial, investment, and capital markets teams. Steve Pachella has also joined ReliaMax and will report directly to Albright as Vice President, Capital Markets. Pachella will lead the company's external funding efforts including the establishment of a ReliaMax asset-backed securities program. The ReliaMax® Solution provides a turn-key opportunity enabling lenders to support their next generation of customers today by providing a comprehensive, low risk and easy way to implement a private student loan program.
"Jon has far-reaching experience building FinTech companies in both North America and Europe. His leadership capabilities are a perfect fit for the rapid growth we foresee as we grow into a market-leading position in the FinTech market. His contributions will be vital to our success," said Michael VanErdewyk, CEO and Chairman of ReliaMax. "Adding Steve to Jon's team gives ReliaMax an experienced and focused leader in asset-backed securities, and we're lucky to have him join us."
Albright brings more than 10-years of CFO leadership experience to ReliaMax. Most recently, he was CFO for Borro Group Holdings, Limited in the United Kingdom. Borro was named one of the global 50 Best Fintech Innovators by KPMG/H2 in 2015. Prior to that he held CFO positions at TDX Group Limited, CMAX Holdings, Barclaycard UK and served as a senior vice president & finance director at JPMorgan Chase. Albright holds a bachelor's degree in Finance from Wake Forest and MBA in Management from Duke University. He is relocating to Sioux Falls after splitting his time between New York and London.
"I'm very excited to join the ReliaMax team to help guide its growth as the company matures over the coming years," said Albright. "I'm particularly attracted to the company's mission of Helping Lenders Help StudentsSM and believe that ReliaMax can help improve the quality of higher education financing in America. There is opportunity not only for traditional financial institutions but for alternative lenders as well as capital providers, and I look forward to leveraging those opportunities to maximize returns for all stakeholders."
Steve Pachella has over 15 years of capital markets experience with consumer, corporate, and esoteric assets with a particular focus on the private student loan and sub-prime auto markets. Prior to joining ReliaMax, Pachella was Managing Director of Strategy and Loss Mitigation at CIFG Holdings, Ltd. as well as Director in the U.S. Consumer and Real Estate Assets Group. He has also served as Assistant Vice President at Financial Security Assurance and has a strong background in the healthcare industry. Pachella holds an MBA in Finance from George Mason University and a BS in Marketing from Virginia Tech.
ReliaMax® is the nation's leading financial technology company insuring private student loans made by banks, credit unions and alternative lenders. Based in Sioux Falls, South Dakota, ReliaMax has the only private student loan insurance platform in the country and has insured over $2 billion in loans since 2009. The company recently launched its own proprietary servicing platform designed specifically for private student loans and also intends to begin originating education loans in 2016.