SocietyOne shuffles senior ranks as volumes accelerate

 

Peer-to-peer lender SocietyOne is looking for a new chief marketing officer following the departure of star recruit Mitch Harad while co-founder Matt Symons has been shifted to non-executive director, as the high-profile fintech upgrades its lending forecasts and attracts more institutional capital on to its internet platform.

Mr Harad was hired with fanfare mid-last year after guiding Lending Club, also a P2P lender, to a public listing in the US. It is understood his departure is amicable and he will stay in Australia to establish his own start-up.

Mr Harad was lured to SocietyOne by co-founder Matt Symons, who will relinquish his executive duties and move to the boardroom as a non-executive director. His management role will be taken up by former Boston Consulting Group consultant Jonathan Chan, who will become chief product and strategy officer.

In other management moves, the other co-founder, Greg Symons (no relation to Matt), will become chief operating officer, with responsibility for day-to-day operational, credit, customer service and technology activities. Stephen Cole – who had had been on secondment from Westpac, whose venture capital fund Reinventure Group has invested $10 million in SocietyOne – will become head of credit and business analytics. Sarah Black, previously at Elsevier Australia, has been appointed head of people and culture after joining as an advisor in March.

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Source: SocietyOne shuffles senior ranks as volumes accelerate | afr.com