New York and Tel Aviv, Isreal — (Business Wire) — Pagaya Technologies Ltd. (“Pagaya”), a financial technology company that enables financial institutions to expand access to more customers through its partnerships and artificial intelligence network, today announced the appointment of Leslie Gillin, former President of Chase Co-Brand Cards, CMO of Citi’s Global Consumer Bank and, most recently, CMO of JPMorgan Chase & Co., as its Chief Growth Officer. This hire reinforces Pagaya’s commitment to double down on serving all of its partners at scale.
Pagaya continues to bring on talent to execute its mission to enable better financial outcomes for our partners and their customers. Today’s news comes on the heels of the company’s recent announcement that it had entered into a business combination agreement with special purpose acquisition company EJF Acquisition Corp., which values the combined company at an estimated enterprise value of approximately $8.5 billion at closing.
“Leslie is a proven leader with a successful track record of building high-performing teams, growing businesses, and having a customer-first mindset,” said Gal Krubiner, Pagaya’s co-founder and CEO. “At this stage in our company’s growth, it’s essential that we continue investing in top-performing leadership to positively influence our innovations and deliver even stronger solutions for both our partners and the customers they serve. She is the ideal person to lead Pagaya’s efforts on a grander scale.”
As Pagaya’s first Chief Growth Officer, Leslie Gillin will initially focus on building upon Pagaya’s partnerships in the banking and financial industry. She will oversee business development, partnerships, marketing, and will lead growth for not just the company, but for all of its partners.
“Pagaya’s unique, innovative approach to expanding access to credit, through its partners, truly sets the company apart. I am committed to ensuring every partner, and its customers, benefit from our solutions,” said Pagaya’s Chief Growth Officer, Leslie Gillin. “After 30 years of working for some of the best financial institutions in the industry, I am so excited to bring the power of Pagaya’s data-rich technology capabilities, coupled with its unique business funding model, to further accelerate bringing more deserving customers of our partners into the mainstream economy.”
Pagaya is a financial technology company working to reshape the lending marketplace by using machine learning, big data analytics, and sophisticated AI-driven credit and analysis technology. Pagaya was built to provide a comprehensive solution to enable the credit industry to deliver their customers a positive experience while simultaneously enhancing the broader credit ecosystem. Its proprietary API seamlessly integrates into its next-gen infrastructure network of partners to deliver a premium customer user experience and greater access to credit.
This document includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “could,” “continue,” “expect,” “estimate,” “may,” “plan,” “outlook,” “future” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward looking statements include estimated financial information. Such forward looking statements with respect to revenues, earnings, performance, strategies, prospects and other aspects of the businesses of EJFA, Pagaya or the combined company after completion of the proposed business combination are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward looking statements. These factors include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Agreement and Plan of Merger providing for the business combination (the “Agreement”) and the proposed business combination contemplated thereby; (2) the inability to complete the transactions contemplated by the Agreement due to the failure to obtain approval of the shareholders of EJFA or other conditions to closing in the Agreement; (3) the ability to meet Nasdaq’s listing standards following the consummation of the transactions contemplated by the Agreement; (4) the risk that the proposed transaction disrupts current plans and operations of Pagaya as a result of the announcement and consummation of the transactions described herein; (5) the ability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (6) costs related to the proposed business combination; (7) changes in applicable laws or regulations; (8) the possibility that Pagaya may be adversely affected by other economic, business, and/or competitive factors; and (9) other risks and uncertainties indicated from time to time in other documents filed or to be filed with the SEC by EJFA. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. EJFA and Pagaya undertake no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. Any financial information or projections in this communication are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Pagaya’s and EJFA’s control. The inclusion of financial information or projections in this communication should not be regarded as an indication that Pagaya or EJFA, or their respective representatives and advisors, considered or consider the information or projections to be a reliable prediction of future events. The financial information included in this communication has been taken from or prepared based on Pagaya’s historical financial statements. Pagaya’s historical financial statements have been audited by Ernst & Young in accordance with generally accepted auditing standards in Israel and prepared in conformity with U.S. Generally Accepted Accounting Principles. Pagaya’s historical financial statements have not been audited in accordance with the Public Company Oversight Board (“PCAOB”) standards or prepared in accordance with Regulation S-X promulgated under the Securities Act of 1933, as amended. Pagaya cannot assure you that, had the historical financial information included in this communication been compliant with Regulation S-X and audited in accordance with PCAOB standards, there would not be differences, and such differences could be material. An audit of Pagaya’s financial statements in accordance with PCAOB standards is currently in process and will be included in the proxy statement/prospectus with respect to the business combination. Accordingly, there may be material differences between the presentation of Pagaya’s historical financial statements included in this communication and in the proxy statement/prospectus, including with respect to, among others, the method of accounting for, off balance sheet items, timing of revenue recognition and asset classification.