LendingClub’s Quarterly Loss Widens; CFO Dolan Steps Down

  • Firm names Coleman interim finance chief as Dolan leaves
  • Fannie Mae CEO Timothy Mayopoulos to join company’s board

LendingClub Corp.’s loss widened to $81.4 million in the second quarter as the online loan venture sought to contain damage from a surprise leadership shakeup in May. On Monday, it announced the departure of its finance chief and bolstered its board.

The net loss compared with $4.1 million a year earlier. The adjusted per-share operating loss was 9 cents, missing the 3-cent loss estimated by analysts.

Chief Financial Officer Carrie Dolan resigned “to pursue a new opportunity,” LendingClub said, naming corporate controller Bradley Coleman interim CFO. Fannie Mae Chief Executive Officer Timothy Mayopoulos, whose resume includes stints at some of the world’s largest banks, will join the board…

LendingClub’s Quarterly Loss Widens; CFO Dolan Steps Down

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