All loans made by WebBank, a Utah-chartered Industrial Bank, Member FDIC. Currently only residents of the following states may invest in Lending Club notes: AR, AZ, CA, CO, CT, DE, FL, GA, HI, IA, ID, IL, KY (accredited investors), LA, MA, ME, MN, MS, MT, NH, NV, NY, OK, RI, SD, TX, UT, VA, VT, WA, WI, WV, or WY. Lending Club is based in San Francisco, California. Lending Club has been prominently recognized as a leader for its growth and innovation, including being named one of Forbes' America's Most Promising Companies three years in a row, a CNBC Disruptor two years in a row, a 2012 World Economic Forum Technology Pioneer, and one of The World's 10 Most Innovative Companies in Finance by Fast Company. We operate at a lower cost than traditional bank lending programs, so we're able to pass the savings on to borrowers in the form of lower rates and to investors in the form of solid returns. Since launching in 2007, the Lending Club platform has facilitated over $11.2 billion in consumer loans and has more than doubled annual loan volume each year. The company's technology platform enables it to deliver innovative solutions to borrowers and investors. Lending Club's mission is to transform the banking system to make credit more affordable and investing more rewarding. I'm thrilled to join the team and look forward to helping the company continue to execute on its mission to make credit more affordable and investing more rewarding by growing its business on multiple fronts."īhandari held a variety of roles at Capital One encompassing strategy development, credit risk management, marketing, product development, and underwriting expertise across consumer and small business credit cards, auto loans, mortgages and home equity loans.īhandari holds a B.Tech in Mechanical Engineering from the Indian Institute of Technology in Delhi and an MBA from the Indian Institute of Management in Ahmedabad. "I wish continued success for Sandeep and the team."īhandari said, "Lending Club truly has the potential to transform the traditional banking system. "It's been an honor and a pleasure to have been part of the team over the last four years and I am very proud of what we have accomplished," said Lending Club Chief Risk Officer Chaomei Chen. We're glad that they'll be able to work side by side for a time to ensure a smooth transition." In 15 years at Capital One Sandeep demonstrated his strategic abilities to launch new products, acquire quality customers, and develop growth strategies that led to accelerated growth of originations, while prudently managing credit risk and accurately forecasting credit performance. "We're also thrilled to welcome Sandeep as a key member of the executive team. "We're grateful to Chaomei for the formative role she has played over the last four years in establishing the foundation for, and building, an outstanding credit and risk management organization, and wish her the best as she begins a new chapter of her life," said Lending Club CEO Renaud Laplanche. Bhandari will assume responsibility for credit risk management across all products, replacing in that capacity Lending Club Chief Risk Officer Chaomei Chen, who will be retiring at the end of this year.
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