Skip To Content
BuzzFeed News Home Reporting To You

Utilizamos cookies, próprios e de terceiros, que o reconhecem e identificam como um usuário único, para garantir a melhor experiência de navegação, personalizar conteúdo e anúncios, e melhorar o desempenho do nosso site e serviços. Esses Cookies nos permitem coletar alguns dados pessoais sobre você, como sua ID exclusiva atribuída ao seu dispositivo, endereço de IP, tipo de dispositivo e navegador, conteúdos visualizados ou outras ações realizadas usando nossos serviços, país e idioma selecionados, entre outros. Para saber mais sobre nossa política de cookies, acesse link.

Caso não concorde com o uso cookies dessa forma, você deverá ajustar as configurações de seu navegador ou deixar de acessar o nosso site e serviços. Ao continuar com a navegação em nosso site, você aceita o uso de cookies.

Prosper Has Lost Its Most Important Link To Wall Street

The departure of the company's head of capital markets is the latest sign of upheaval in the online lending industry.

Last updated on January 30, 2017, at 5:46 p.m. ET

Posted on January 30, 2017, at 4:29 p.m. ET

Prosper / Via

The online lender Prosper has lost its key link to Wall Street, with its head of capital markets leaving the company just months after the departure of its CEO in November.

As Prosper's executive vice president of capital markets, Eric Thaller was responsible for selling packages of the company's loans to investors — a central function for online lenders, who avoid carrying loans on their own balance sheets. He left the San Francisco-based company last week, a spokesperson told BuzzFeed News on Monday.

He is not the only Prosper executive to leave in recent months. Its CEO departed near the end of 2016 and was succeeded by the company's finance chief.

Thaller has taken a job at Sunbit, a consumer lending startup in Los Angeles, he told BuzzFeed News. Sunbit works with retailers to offer financing to their customers, affording to its website.

The Prosper spokesperson, Sarah Cain, said in an email that Thaller "made a personal decision to move to Los Angeles, where he is originally from," for the new job. Thaller, in a text message, said his decision to leave Prosper was "driven by my desire to get back to Los Angeles and be closer to my family."

Prosper has yet to name a successor.

"We've got a strong capital markets team, and are considering a few different options as we look to the future, but nothing to share at this time," Cain said in the email.

The online lending business was roiled in May by a scandal at Lending Club, one of the industry's most prominent firms, which acknowledged it inaccurately represented loans it sold to an investor. Such investors play a crucial role in the online lending machinery, buying packages of loans so that lenders are freed up to make new ones.

Prosper's losses widened in the first half of 2016, according to The Wall Street Journal, and it undertook a cost-cutting effort.

A BuzzFeed News investigation, in partnership with the International Consortium of Investigative Journalists, based on thousands of documents the government didn't want you to see.