Two Vermuts and Ron Suber leave Wells Fargo to Prosper
23 January 2013 San Francisco
Image: Shutterstock
Stephan Vermut, Aaron Vermut and Ron Suber have all left Wells Fargo to join the peer-to-peer financing platform Prosper.
Stephan Vermut, the former founder and managing partner of Merlin Securities, joined Wells Fargo on its acquisition of Merlin in April 2012 to bring prime brokerage services to the firm.
Prosper has appointed Stephan Vermut as CEO and member of the board of directors, where he succeeds Dawn Lepore, who served as interim CEO since March 2012.
Prosper also named Ron Suber as head of global institutional sales. Aaron Vermut will join as president after a transition period with Wells Fargo.
They will work closely with Stephan Vermut, and new business partner Sequoia Capital, which led a $20 million round of financing in support of the new team.
Sequoia Capital partner Pat Grady will join the Prosper board of directors.
"I've watched with great interest over the past few years as the peer-to-peer lending industry has grown substantially, and I believe Prosper is in a unique position to offer both borrowers and lenders unprecedented access to financial opportunity," said Stephan Vermut.
Suber, a former managing director at Wells Fargo Securities and head of global sales at Merlin Securities, will be responsible for expanding Prosper's presence among institutional investors.
Aaron Vermut, currently managing director and head of prime services at Wells Fargo, was a founder and managing partner at Merlin Securities. As president of Prosper, he will drive the strategic direction of the company.
Stephan Vermut, the former founder and managing partner of Merlin Securities, joined Wells Fargo on its acquisition of Merlin in April 2012 to bring prime brokerage services to the firm.
Prosper has appointed Stephan Vermut as CEO and member of the board of directors, where he succeeds Dawn Lepore, who served as interim CEO since March 2012.
Prosper also named Ron Suber as head of global institutional sales. Aaron Vermut will join as president after a transition period with Wells Fargo.
They will work closely with Stephan Vermut, and new business partner Sequoia Capital, which led a $20 million round of financing in support of the new team.
Sequoia Capital partner Pat Grady will join the Prosper board of directors.
"I've watched with great interest over the past few years as the peer-to-peer lending industry has grown substantially, and I believe Prosper is in a unique position to offer both borrowers and lenders unprecedented access to financial opportunity," said Stephan Vermut.
Suber, a former managing director at Wells Fargo Securities and head of global sales at Merlin Securities, will be responsible for expanding Prosper's presence among institutional investors.
Aaron Vermut, currently managing director and head of prime services at Wells Fargo, was a founder and managing partner at Merlin Securities. As president of Prosper, he will drive the strategic direction of the company.
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