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Financial Stocks in Front Line! LendingClub Corp (LC), Bank of New York Mellon Corp (NYSE:BK)

Shares of LendingClub Corp (NYSE:LC) ended Thursday session in green amid volatile trading. The shares closed up +0.01 points or 0.08% at $6.11 with 4.56 million shares getting traded. Post opening the session at $6.10, the shares hit an intraday low of $6.06 and an intraday high of $6.19 and the price vacillated in this range throughout the day. The company has a market cap of $2.39 billion and the numbers of outstanding shares have been calculated to be 391.15 million shares.

LendingClub Corp (LC) on Aug. 24, 2016 announced two new additions to its Investor Group. Valerie Kay will join Lending Club as Senior Vice President, Head of Institutional Investors and Raman Suri will join as Senior Vice President, Head of Retail Investors. They will report to Patrick Dunne, Chief Capital Officer, who joined Lending Club in July after a 25-year career at BlackRock and other investment firms.

“A key strength of Lending Club’s marketplace lies in the diversity of our capital, including the largest retail investor base of any marketplace lender and a broad institutional investor base spanning banks, dedicated funds, asset managers and pension funds. Valerie and Raman will play important roles in helping our marketplace achieve its full potential in terms of scale and resiliency,” said Scott Sanborn, CEO and President of Lending Club.

Ms. Kay, a former executive at Morgan Stanley and Prudential Securities, brings more than 25 years of capital markets experience across a broad range of consumer asset classes. She will be responsible for institutional capital management on Lending Club’s platform.

“Lending Club’s marketplace has transformed access to consumer credit, delivering a high-quality asset with solid returns to investors, and I’m thrilled for this opportunity to join a talented team and further build the institutional investor strategy,” Ms. Kay said.

Ms. Kay spent 20 years at Morgan Stanley, including 12 years as a Managing Director, where she held several leadership roles within Global Capital Markets including Deputy Head of Asset Finance, Head of Structured Asset Monetization and Head of Mortgage Finance. She was most recently part of the Institutional Securities Group where she was responsible for managing relationships with some of Morgan Stanley’s most important institutional investors.

Mr. Suri has held a variety of senior roles at BlackRock iShares and its predecessor, Barclays Global Investors (BGI), including Head of RIA and Institutional Segments and Head of Product for US iShares. He brings more than 15 years of experience in investment management, product and business development to Lending Club. Mr. Suri will be responsible for driving the company’s retail investor channel, focusing on self-directed retail, registered investment advisors, brokerage distribution strategies, and product development.

“Like iShares, Lending Club has created a platform that’s leveling the playing field for retail investors, enabling them to access attractive, low-cost, high-performing financial products,” said Mr. Suri. “I’m looking forward to working with the team to expand Lending Club’s ability to help more retail investors achieve the returns that the marketplace delivers.”

Shares of Bank of New York Mellon Corp (NYSE:BK) ended Thursday session in red amid volatile trading. The shares closed down -0.15 points or -0.37% at $40.35 with 4.54 million shares getting traded. Post opening the session at $40.87, the shares hit an intraday low of $40.24 and an intraday high of $40.90 and the price vacillated in this range throughout the day. The company has a market cap of $43.45 billion and the numbers of outstanding shares have been calculated to be 1.07 billion shares.

On Sept. 20, 2016 – Albridge, an affiliate of Pershing LLC, a BNY Mellon company, announced the winners of the 2016 Albridge Data Excellence Awards. The inaugural Data Excellence Awards recognize the Albridge clients who are at the forefront of driving meaningful data quality improvements in the broker-dealer industry, and who have made outstanding contributions to the Albridge Data Quality Forum community. The Albridge Data Quality Forum is comprised of operations and technology professionals from broker-dealers, custodians and product companies. The Forum participants meet regularly with the goal of advancing industry data quality practices through discussion of key issues and by sharing best practices.

Albridge recognized 23 financial institutions as recipients of the 2016 Albridge Data Excellence Award. Special recognition was given to financial services firm Baird, who was honored with the 2016 Data Excellence Champion Award, for the firm’s dedication and commitment to Data Excellence in support of the best advisor and investor experience. In addition, individual recognition was given to Heather Barnett of Cambridge Investment Research and Doree Sargent of Lincoln Financial Group for their individual efforts in driving meaningful change across the industry – specifically collaborating with product companies to improve the client experience.

“The key to the advisor-investor relationship is trust. To build this trust, advisors and investors must be confident in the data they use to make investment decisions. The award recipients have been relentless in their effort to provide advisors and investors with data integrity and data of the highest quality,” said Greg Borgman, director of data management at Albridge. “The award also recognizes the significant contributions they made to the Albridge Data Quality Forum, helping to drive industry-wide improvements for the benefit of all investors. We thank and congratulate the recipients, and look forward to helping them continue their pursuit of data excellence.”

“We are honored to receive this distinguished award from Albridge,” said Ryan Burwell, director of private wealth management technology strategy at Baird, “Providing our advisors with data of the highest-quality is just as important as ensuring that they are well-equipped to serve as strong, reliable financial partners to those who entrust their capital to us.”


About Mary Jones

Mary Jones has been a columnist on financial. Because of having financial background, Mary Jones has been well known in his community regarding writing blogs on financial for many financial news sites and now it is our honor that Mary Jones started writing financial news for us recently.

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