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Elevate hires Paypal, loanDepot alum as chief credit officer

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By Sasha Padbidri
30 Jan 2018

Online subprime lender Elevate Credit has tapped former PayPal and loanDepot executive Brian Biglin as chief credit officer.

Biglin’s new role is effective immediately, according to a statement from the company. Most recently, Biglin was the ceo of Pacific Credit Group.

Prior to that, Biglin was the chief risk officer at loanDepot, an online mortgage and consumer lender, where he worked on the company’s debut personal loan securitization, which was priced in December 2015. The company subsequently brought two more deals in March and August 2016. All three offerings were private and unrated.

Biglin was also the chief credit officer at PayPal through the 2008 recession, where he grew the company’s consumer credit portfolio from $400m to $6bn.

Biglin was also a senior credit risk officer at JP Morgan in Seattle, where he managed a $55bn consumer loan portfolio, according to his LinkedIn profile.

Elevate, which completed an initial public offering last year, previously told GlobalCapital that it was interested in accessing the securitization market for funding, but has yet to bring a deal.

A spokesperson for Elevate declined to comment on future plans, only stating that the company is “still looking at options.”

By Sasha Padbidri
30 Jan 2018