CommonBond also appoints long-time company advisor, Charles Stonehill, to Board of Directors
NEW YORK, July 29, 2015 /PRNewswire/ -- CommonBond, a leading marketplace lending platform that lowers the cost of student loans for borrowers and provides financial returns to investors, today announced the appointment of Morgan Edwards as its Chief Financial Officer.
Mr. Edwards brings more than 25 years of experience across financial services, and as CFO will oversee CommonBond's capital strategy, as the company continues to grow and scale. Mr. Edwards spent the last seven years as a Managing Director at Macquarie Capital, playing a key role in the firm's rise to becoming a leader in leveraged loan debt underwritings. He served as Head of Leveraged Finance for the Telecom, Media and Technology (TMT) sectors and was also Head of Middle Market Lending for all sectors, including financial technology. Across these sectors, Mr. Edwards was responsible for the origination, structuring, underwriting and distribution of deals. Prior to Macquarie, Mr. Edwards spent nearly 20 years at Morgan Stanley and other bulge bracket firms in debt capital markets, credit and portfolio management as well as distribution roles. Over the course of his career, Mr. Edwards has structured, underwritten or sold hundreds of transactions totaling more than $50 billion.
"CommonBond has achieved impressive growth in a relatively short time span, and the opportunity to lead and institutionalize the financial levers of one of the fastest-growing startups in marketplace lending is one that I couldn't be more excited about," said Mr. Edwards. "I look forward to applying my experience across the financial industry to help move CommonBond into its next phase of growth."
Mr. Edwards earned a B.A. in Economics from Brigham Young University and an MBA from BYU's Marriott School of Business, graduating with Highest Distinction honors. Mr. Edwards was a former board member of the Loan Syndications and Trading Association and presently sits on the National Advisory Council for BYU's Marriott School. CommonBond has also appointed long-time company advisor and banking industry veteran, Charles G.T. Stonehill, to its Board of Directors.
Mr. Stonehill is a Managing Partner of TGG Group, of which Vikram Pandit, the former CEO of Citigroup and an investor in CommonBond, is Chairman. Mr. Stonehill has spent more than 25 years in investment banking, leading Banking and Capital Markets practices at Morgan Stanley, Credit Suisse and Lazard Inc. He currently serves on the board of Julius Baer Group, Switzerland's largest pure private bank.
"Marketplace lending is changing the financial industry as we know it today, and CommonBond is at the forefront of this wave of disruption," said Mr. Stonehill. "Having watched CommonBond develop since its very early stages, I look forward to contributing my experience as the company continues to expand its team, products and capital." Mr. Stonehill has an M.A. from Magdalen College, Oxford. He is a Governor of Harrow School, England and a former Board Director of the London Metal Exchange.
"We're focused on building a great and lasting company," said David Klein, CEO and Co-Founder of CommonBond. "As CommonBond enters its next stages of growth, we are incredibly fortunate to have Morgan and Charles join us and meaningfully contribute to the company's continued scale."
CommonBond is a leading marketplace lending platform that lowers the cost of student loans for borrowers and provides financial returns to investors. Started by three Wharton MBAs, CommonBond is dedicated to delivering best-in-class student loan options with competitive pricing, a simple tech-enabled experience and exceptional customer service that is empowered to help borrowers. The company saves borrowers more than $14,000 on average, over the life of the loan. CommonBond is the first company to bring the "one-for-one" social model to finance: For every degree fully funded on the company's platform, CommonBond funds the education of a student in need for a full year, through a partnership with Pencils of Promise. For more information, visit http://www.commonbond.co.