SAN FRANCISCO, Oct. 21, 2015 /PRNewswire/ -- NerdWallet™ announced today that Simon Williams, chairman and CEO of Camelot Financial Capital Management LLC, has been elected to its board of directors. It also announced that Camelot has invested $5 million in NerdWallet, bringing the company's Series A funding to $69 million.
Williams — a former CEO of Citibank Retail Banking and group head of HSBC Wealth Management — will leverage his decades of experience in banking to help guide NerdWallet as it gives consumers clarity around all of life's financial decisions. More than 3 million consumers turn to NerdWallet every month for tools, research and expert advice on topics ranging from the best credit card to how to plan for retirement.
"I am incredibly excited to welcome Simon onto the board. We share the same passion for changing the status quo in personal finance and putting the consumer first," said Tim Chen, co-founder and CEO of NerdWallet. "Simon's inside knowledge of the retail banking industry will be incredibly valuable as we revolutionize the way consumers choose, and institutions market, personal finance products."
Williams is the latest finance luminary providing expertise to NerdWallet. In May 2015, James D. Robinson III, former CEO of American Express, and Vikram Pandit, former CEO of Citigroup, were named board advisors.
"There is a seismic change in the financial services industry. NerdWallet is in a unique and enviable position — it can provide unparalleled value to both consumers and financial institutions," Williams said. "I believe NerdWallet has the ability to completely transform personal finance, and I look forward to working with Tim and the management team to bring the company's philosophy and business objectives to fruition."
Williams is actively involved in other highly successful financial services startups, including Lending Club, where he is a director, and OnDeck Capital, where he is an investor and former director. He founded Camelot in 2007, recognizing the opportunity to advise and invest in fintech companies that were driving the next generation of banking. Williams has developed deep industry knowledge over the course of his more than 30-year career, during which he held executive positions spanning the breadth of financial services. He served as head of HSBC's Wealth Management group from 2011 to 2014. From 1997 to 2006, Williams was a senior executive at Citigroup Inc.; his roles included head of Citibank International Retail Bank, head of the Asia Pacific Consumer Group, head of the Latin America Consumer Group and chief risk officer for Citigroup Global Consumer Group. Williams has also held senior management roles at GE Capital, Bain & Co., and Price Waterhouse.
On the NerdWallet board, Williams joins Chen; Jules Maltz, general partner at IVP; and Tom Loverro, who led RRE Venture's investment in NerdWallet and now serves as vice president at IVP.
"Simon has exceptional insights into the full spectrum of financial services, the evolution of banking and the fintech landscape," Maltz said. "His addition to the board is another major achievement for NerdWallet as the company continues to build one of the best teams in the Valley."
Headquartered in San Francisco, NerdWallet has more than 270 employees and boasts an impressive leadership team with experience at Box, JPMorgan, LinkedIn, Trulia, Visa and Zynga.
NerdWallet gives consumers clarity around key financial decisions at every stage of their lives. When it comes to credit cards, insurance, loans or expenses like hospital costs, consumers make almost all their decisions in the dark. NerdWallet is changing that, helping guide consumer decisions with free, accessible tools, research and expert advice that can't be found anywhere else. We call it putting knowledge in your wallet.
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Senior Communications Manager, NerdWallet