OnDeck Adds Former GE Capital and SunTrust Executives to Finance Team
Kelly Merrill and Erich Wust will lead key Finance and Risk functions
NEW YORK, N.Y., – December 12, 2017 – OnDeck® (NYSE: ONDK), the leading online lender to small business, today announced the hiring of two senior financial services executives to join its management team. Kelly Merrill and Erich Wust will assume new leadership roles that directly support OnDeck’s mission of empowering small business owners with the fastest and most flexible credit solutions
Kelly Merrill joins OnDeck as the Senior Vice President for Finance, where she will help lead the company’s short-term and long-term financial planning initiatives. Merrill brings over a decade of finance experience to OnDeck from GE Capital, where she played a leading role in developing and executing the disposition strategy for GE Capitals’s $200 billion balance sheet. Previously, Merrill was the Chief Financial Officer (CFO) of GE Capital Real Estate, where she led a team of more than 50 employees. Merrill is based in New York City and will report to OnDeck CFO Howard Katzenberg.
Erich Wust has been appointed as the Senior Vice President for Portfolio Management at OnDeck. He will be responsible for managing portfolio credit strategies, balance sheet optimization and other components of the company’s loan portfolio. Wust joins OnDeck after more than a decade in credit and risk leadership roles at SunTrust Bank. He most recently served as the bank’s senior vice-president of Wholesale Modeling and Analytics. Wust will be based at OnDeck’s offices in Arlington, Virginia and will report to the company’s Chief Risk Officer, Nick Brown.
“We are delighted to welcome Kelly and Erich to OnDeck. Both are proven leaders with strong track records of success in the financial services industry,” said Noah Breslow, Chief Executive Officer, OnDeck. “Kelly and Erich bring deep experience and expertise to their new roles, and their leadership will be invaluable to OnDeck as we continue our strong progress and evolution to profitability.”
OnDeck (NYSE: ONDK) is the leader in online small business lending. Since 2007, the company has powered Main Street’s growth through advanced lending technology and a constant dedication to customer service. OnDeck’s proprietary credit scoring system – the OnDeck Score® – leverages advanced analytics, enabling OnDeck to make real-time lending decisions and deliver capital to small businesses in as little as 24 hours. OnDeck offers business owners a complete financing solution, including the online lending industry’s widest range of term loans and lines of credit. To date, the company has deployed over $8 billion to more than 80,000 customers in 700 different industries across the United States, Canada and Australia. OnDeck also licenses its technology platform as a service, enabling banks and other small business service providers to offer fast and efficient online loans to their customers. OnDeck has an A+ rating with the Better Business Bureau and operates the educational small business financing website BusinessLoans.com. For more information, please visit www.ondeck.com.