Prosper Marketplace Hires Former Citibank (NYSE: C) Executive as New Chief Revenue Officer

Prosper Marketplace, a peer-to-peer lending firm, has announced that it has appointed Nick Talwar, the former head of Citibank (NYSE: C) Sweden, as its new Chief Revenue Officer. As Chief Revenue Officer, Talwar will be responsible for developing additional revenue for the company and encouraging customer growth.

Prosper Chief Executive Chris Larsen said in a statement, “As the peer-to-peer lending industry continues to emerge, we recognize that a holistic approach to customer acquisition and risk modeling is critical to seizing the enormous market opportunity before us. Nick Talwar’s proven track record in growing consumer financial products and markets from the ground up strengthens our ability to continue to lead the peer-to-peer lending industry into the mainstream of American consumers’ financial lives.”

Mr. Talwar had this to say about his new position, “Over the course of the last eighteen months it has become increasingly evident that the traditional financial services marketplace is leaving significant gaps in meeting the needs of consumers.”

Talwar continued, “In the wake of this new reality, Prosper is perfectly suited to help drive a more sustainable consumer lending model in which individuals play a greater role and get a better deal in meeting their financial needs. I’m incredibly excited to play a key role in growing a company that furthers financial success for all by helping to fill the credit void for borrowers at better rates and terms, and provides people with the freedom to do well by doing good by investing in each other.”

Before Talwar joined Prosper, he served as CEO of Citibank’s consumer business in Sweden. While his stay at Citibank, the unit’s customer growth improved by 500%, doubled its assets and launched a new credit card business. Before Talwar joined Citibank, he served as the business head for Flexible Equity Lending, a joint firm between Smith Barney and Citi’s consumer assets division.

Talwar has an M.B.A. from the Wharton School at the University of Pennsylvania and a B.S. in International Politics and International Economics from The School of Foreign Service at Georgetown University.