Former chairman of the SEC, Arthur Levitt, is an adviser to fintech startups: SoFi, PeerIQ, Mirror, Motif Investing and Promontory Financial Group. Meanwhile the former CEO of Morgan Stanley, John Mack, and former CEO of Citgroup, Vikram Pandit and a number of other former Wall Street executives are actively advising and investing in fintech startups. Read More.
Levitt’s other advisory roles include PeerIQ, Mirror, Motif Investing and Promontory Financial Group, according to his Twitter bio. SoFi recently passed the $4 billion mark for funding student loan refinancing, personal loans and mortgages, making it one of the leading marketplace lenders. The company isn't the only peer-to-peer lender to have hired from more traditional areas of finance. Earlier this year, small business lender startup Bond Street added Wall Street credit veteran Jerry Weiss to its ranks. CommonBond, another competitor to SoFi, counts ex-Citigroup CEO Vikram Pandit among its investors, and also added Morgan Edwards, another Wall Street veteran, to its executive team as a CFO earlier this summer.