Lending Club said Thursday that it has hired Sameer Gulati, formerly of McKinsey & Co., to be its chief operations officer and promoted another executive, Scott Sanborn, to president. Both are newly created positions at the nonbank lender.

Gulati will step into his role May 16 and report to the San Francisco company's CEO, Renaud Laplanche.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.