Good news there is a future for Financial old school excecutives! 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. We see less European Veterans being active, may be this is too come? May be the financial Crisis impacted the public opinion so much in Europe, time will tell
SoFi, one of the biggest marketplace lenders on the web, is adding a boldface name from Washington to its ranks as the company continues to roll out billions in loans. Ex-Securities and Exchange Commission chairman Arthur Levitt is joining SoFi as an advisor, according to a person familiar with the matter. Levitt confirmed the news when he spoke with Business Insider. While Levitt has been out of the regulation game for more than a decade, he’s been active consulting with developing private companies and is an avid supporter of technology’s role on Wall Street. He also thinks that there will be a shift in how startups are regulated, and it’s one he feels is overdue.