Prosper Hires New CFO Amid Rate Hikes, Downgrade

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Online lender Prosper Marketplace has hired David Kimball as its chief financial officer.

Kimball joins the San-Francisco based lender from USAA where he was a senior financial officer in charge of capital markets, treasury and accounting.

“Marketplace lending is an industry that I have watched with interest for some time, and I’m thrilled to be returning to the west coast to join Prosper Marketplace,” said David Kimball.

The company recently raised interest rates among what it called a “turbulent market environment” by an average of 1.4 points to 14.9 percent. Separately, Moody’s downgraded three bonds backed by Prosper citing concerns over slow repayment and loss projections.

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Last modified: April 20, 2019

Category: Marketplace Lending

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