Aarti Shah 14 Sep 2017 // 7:37PM GMT
SAN FRANCISCO — PayPal's global head of product communications Anuj Nayar has left to become head of communications at peer-to-peer investment company Lending Club.
In his new role that starts on Monday, Nayar will be in charge of the team running all internal and external communications, as well as social media, for the $2.5 billion publicly-traded fintech company.
He joined PayPal in 2008, and most recently, was a key player in the company's 2015 consolidation with Edelman. Lending Club, meanwhile, launched 10 years ago as the first peer-to-peer lending service with claims of more than $28bn in loans through its platform and 2+million customers. The company recently announced a new credit model. When Nayar joins Monday, he will focus on preparing for the company's first post-IPO investor day on December 7.
"With traditional retail banks closing in record numbers and trust in traditional institutions eroding, it’s time for the mainstream consumers to adopt a new way to connect borrowers to the funds they need to help power their lives," he said. "This is a communication challenge — not a business challenge — and is similar to the situations I faced at Apple when I joined in 2003 and PayPal in 2008 as they entered their hyper growth phase of their development."