SoFi names longtime Goldman Sachs exec Michelle Gill as next CFO
Social Finance named Michelle Gill as its next chief financial officer, filling a role that has been vacant since last summer.
Gill comes from the credit firm TPG Sixth Street Partners and previously spent 14 years at Goldman Sachs trading mortgages and other consumer finance debt products.
Her appointment is effective April 30, SoFi said in a statement Monday. She replaces Steven Freiberg, who has been serving as interim CFO since last May and will remain as board vice chairman.
The privately held SoFi, once a darling of the fintech industry, is struggling to recover from a slew of setbacks last year. In 2017, the company faced allegations of sexual harassment and misstatements about loan products to investors. Other high-ranking executives, including Chief Executive Mike Cagney, left the company. Cagney was replaced by Anthony Noto earlier this year.
Gill arrives at SoFi, one of the largest student-loan refinancing business in the U.S., at an important time for the company. Having started out focusing on refinancing student loans, SoFi has ambitions to beat traditional banks by targeting millennials with other financial products.
It currently offers mortgages, personal loans, wealth management and life insurance. It will begin beta testing deposit accounts and debit cards to some customers next month.