The No. 2 executive at online lender Social Finance Inc. is exiting the company to take a senior job at a biotechnology startup.
Nino Fanlo, SoFi’s president and chief financial officer, is leaving the firm at the end of the month to take over as finance chief at Human Longevity Inc., a four-year-old genomics company, the two companies said. After that time, Fanlo plans to remain a board observer and adviser to SoFi.
At SoFi, Fanlo served as the top lieutenant to CEO Mike Cagney and oversaw the company’s efforts to fund both its own operations as well as the student loans, mortgages and unsecured personal loans it pitched to borrowers. Since its 2011 founding, the San Francisco-based fintech company has extended around $17 billion in consumer loans and raised $1.9 billion in equity capital from Silver Lake, SoftBank Group 9984, -2.37% and other investors.
On an interim basis, Fanlo’s duties will be assumed by Steven Freiberg, a former top executive at E*Trade Financial Corp. ETFC, -1.43% and Citigroup Inc. C, +0.61% who joined SoFi’s board earlier this year. The company plans to launch a formal search for Fanlo’s successor.
An expanded version of this report appears on WSJ.com.
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