DUBLIN, Calif. - Doug Galen, senior vice president for global business development at E-Loan and the company's third employee, has resigned.

Mr. Galen, whose last day was Wednesday, cited a variety of reasons for his departure, including the fact that the company is based in the East Bay of San Francisco, instead of the originally planned base of Palo Alto. It is simply time to move on, he said.

"E-Loan is in my blood, and I am very proud of what we have built," he said in a statement to the company's staff. "As its third employee, I have taken great pride in helping build a powerful business model, over 150 strategic alliances, and a great culture."

Mr. Galen said he does not yet know what he will do next and that he is evaluating new opportunities. In other staff news, E-Loan has promoted Matthew Roberts, its vice president of finance, to chief financial officer. He succeeds Frank Siskowski, who is leaving to pursue other interests, the company said.

Mr. Roberts oversees financial and investor relations functions, including strategic planning.

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