LendingClub Announces Bahman Koohestani as Chief Technology Officer

SAN FRANCISCO, April 12, 2018 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), America's largest online credit marketplace, today announced that it has selected seasoned technology veteran Bahman Koohestani to serve as the company's new Chief Technology Officer. Koohestani will lead the technology efforts as LendingClub expands the capabilities of its marketplace to transform the experience of obtaining and investing in credit.

"We are thrilled to have Bahman join the leadership team. He brings deep experience in using data and technology to compete aggressively and deliver an amazing customer experience," said Scott Sanborn, CEO of LendingClub. "Technology is at the core of what we do and crucial to our mission of helping people achieve financial success. As such, we set an incredibly high bar for this position. In Bahman, we found just the right mix of experience, vision, and leadership."

Koohestani has been a technology leader and innovator for more than 25 years. He joins LendingClub from insights and analytics company Clarivate Analytics, where he served as Chief Technology Officer, leading technology innovation and delivery for over three years.

"LendingClub is the pioneer in using technology to make credit more accessible and more affordable," said Koohestani. "I'm looking forward to working with the team to leverage the scale of LendingClub's data and technology platform to further unleash the company's potential and deliver on its mission."

Prior to Clarivate Analytics, Bahman was Executive Vice President and Chief Technology Officer of the leading shopping site NexTag where he managed all aspects of the technology platform and drove product strategy. He also served as Global Vice President at PayPal, leading global consumer and merchant product development. Prior leadership roles also include Chief Information Officer and Chief Technology Officer at Orbitz Worldwide. In 2001, he was a finalist for the Ernst & Young Entrepreneur of the Year award.

Bahman joins LendingClub effective May 14, 2018 and will report directly to CEO Scott Sanborn.

About LendingClub

LendingClub was founded to transform the banking system to make credit more affordable and investing more rewarding. Today, LendingClub's online credit marketplace connects borrowers and investors to deliver more efficient and affordable access to credit. Through its technology platform, LendingClub is able to create cost efficiencies and passes those savings onto borrowers in the form of lower rates and to investors in the form of solid returns. LendingClub is based in San Francisco, California. Currently, residents of the following states may invest in LendingClub notes: AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, ME, MD, MI, MN, MO, MS, MT, ND, NE, NH, NJ, NV, NY, OK, OR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, or WY. All loans are made by federally regulated issuing bank partners. More information is available at https://www.lendingclub.com.

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SOURCE LendingClub