LendingClub Corporation announced that Al Landon, Erin Selleck and LendingClub's chief financial officer, Tom Casey, will join as the newest members of its Board of Directors at the completion of the acquisition of digital bank Radius Bancorp ("Radius"), which the company expects to occur on or around February 1, 2021, subject to completion or waiver of the remaining customary closing conditions. Simultaneously, Dan Ciporin, former general partner at Canaan Partners, and Ken Denman, former president & chief executive officer of Emotient, have decided to resign from LendingClub's Board of Directors, each effective at the completion of the acquisition of Radius.
In addition, Simon Williams has decided that he will step down at the conclusion of LendingClub's 2021 annual stockholders meeting. With this decision Simon, who is a veteran financial services and fintech exec, is completing a long and dedicated service and leadership term with LendingClub that began in 2009. Mr. Landon is an investor, advisor and director of start-up businesses with over 30-years of experience in the financial services industry. Currently, Mr. Landon is the assistant dean and adjunct professor at the David Eccles School of Business at the University of Utah. He is also a member of the National Board of the Smithsonian Institution and the PBS Foundation in Washington, D.C., serves as vice chair of the Utah Museum of Fine Arts and is a member of the advisory board of PBS Utah. Previously, he served on the board of several financial institutions, including State Farm Insurance. He also held prominent roles as chairman and CEO of Bank of Hawaii and served as a partner with Ernst & Young. In January 2015, President Obama nominated Landon to serve on the Board of Governors of the Federal Reserve System. Mr. Landon will serve on LendingClub's Audit, Credit Risk and Finance, and Compensation Committees. Ms. Selleck is an experienced financial executive, advisor, and corporate director who is a current member of the Board of Directors of Broadway Financial Corp. and its subsidiary, Broadway Federal Bank, where she serves as chair of the Audit Committee, and member of the Risk/Compliance and Loan Committees. Prior to becoming a director and advisor, Ms. Selleck had a successful 30-year career in the financial services industry and served as the senior executive vice president and treasurer for Union Bank, a top-25 U. S. bank and a key subsidiary of Japan's Mitsubishi UFJ Financial Group (MUFG). Ms. Selleck will serve on LendingClub's Audit, Credit Risk and Finance, and Operational Risk Committees.
LendingClub Corporation is the parent company of LendingClub Bank (LC Bank). The Company operates most of its business through LC Bank, as a lender and originator of loans and as a regulated bank in the United States. LC Bank is the digital marketplace bank in the United States where members can access a range of financial products and services designed to help them pay less when borrowing and earn more when saving. LC Bank holds loans and funds those loans directly with its own capital and deposits. LC Bankâs primary loan products include unsecured personal loans, secured auto refinance loans, and patient and education finance loans (Consumer Loans). LC Bankâs commercial lending business is primarily focused on small businesses, and it participates in the United States small business administration (SBA) lending programs. LC Bankâs deposit business includes sourcing deposits directly from consumer and commercial customers and from third-party marketing channels and deposit brokers.
LENDINGCLUB CORPORATION 
