AUSTIN, Texas, July 7, 2020 /PRNewswire/ -- Vault.co, an Austin-based startup and a leader in the student loan benefits technology space announced the appointment of Scott B. David as Chairman of its Board of Directors, effective June 2020.
Mr. David, who serves as Vault's first Executive Chairman, is an accomplished financial services industry leader with more than 30 years of experience in sales, marketing, operations, technology and general management roles across Aetna Capital Management, Scudder Stevens & Clark, Fidelity Investments, where he served as President of U.S. Retirement Services until 2010, and T.Rowe Price, where David was Head of Individual and Retirement Plan Services until 2019.
CEO Romy Parzick welcomes David's appointment, noting that his wide recognition as a transformational and creative leader and long history in Vault's market space was timed to coincide with the closing of Vault's series-A investment round. "Scott David brings an impressive track record of success and strategic vision to Vault, which will be critical to our continued ability to scale and meet the growing demand for benefits that address economic hardships in the post-COVID world. His deep experience in retirement services aligns with what we see in the market; student debt is the leading factor preventing American workers from saving for retirement."
A longtime veteran of retail, retirement and intermediary distributed financial services, David sees the current economic environment as an inflection point for the company. "I believe that Vault's mission of assisting millions of working Americans pay down their student loan debt is more important now than ever before. Vault has emerged from a fairly crowded competitive pool as the most promising player in student loan benefits space and key partnerships, with firms like Prudential Financial and Voya Financial, have established a strong foundation from which to build. I look forward to being part of the next level of advancement for them."