Ron Suber steps down from Prosper, prompting tributes from the industry.
Mr Suber said that he will stay involved with Prosper in an “emeritus” role, but will no longer take part in the day to day management of the company. Mr Suber also said he will stay on in an advisory capacity to several other fintech companies with whom he has investments.
“This isn’t just another, ‘I changed jobs announcement, it’s a next phase of life with eyes wide open called ‘rewirement’ not retirement,” Mr Suber said.
“Rewirement will include doing even more of the things I have enjoyed in the past – travel, teaching, learning, coaching/cultivating young entrepreneurs, being the investor/advisor that I enjoyed working with as an entrepreneur, exploring and spending time with you.”
Mr Suber, a former investment banker at Bear Sterns, was known as one of the key figures of Prosper and has been critical in raising the profile of fintech as an asset class and industry.
Under his leadership Prosper went from a small and emerging fintech to an industry leader, sitting alongside Lending Club,OnDeck and SoFi as one of the big four fintech lenders. He was known throughout the industry for his approachability, globetrotting and his prolific speech giving.
“Ron was involved from the beginning in marketplace lending and has built up a huge network both of investors and platforms right around the world,” said Glenn Hodgeman, CEO of AltFi Australasia.
“And in doing so has always been very keen to share and help out. On the one side, his departure is really sad for the industry, but on the other hand I wish him a lot of success in enjoying his next phase. From a personal point of view I couldn’t speak more highly of him.”
“We really need someone to take the baton from Ron and continue sharing the gospel of fintech far and wide. I am not sure who that person will be, but Ron has left some pretty big shoes to fill.”