In a week where LendingClub posted their first quarter earnings sending their stock up by more than 25% an activist investor has sent a letter to the company. Quarz Capital Management has several gripes with LendingClub: describing their 2018 targets as unconvincing and unambitious, management pay as too high and argued that excess cash should be returned to the shareholders. Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.