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Jun 04, 2024

SoFi Technologies hires general counsel from JPMorgan Chase retail businesses

Stephen Simcock succeeds Rob Lavet, who is retiring

SoFi Technologies has picked Stephen Simcock as the company’s new general counsel. He succeeds Rob Lavet, who is retiring as chief legal officer and moving into an advisory capacity for the company.

Simcock is joining SoFi from JPMorgan Chase & Co, where he has been vice chair of the bank’s legal department and general counsel of its retail businesses. According to his LinkedIn profile, he has spent more than nine years at JPMorgan Chase, before which he was the general counsel of Citigroup’s global consumer bank, which operated in more than 40 countries. In 12 years at Citibank, he held similar roles across the firm’s mortgage lending, commercial and small business and consumer banking units.

Lavet joined SoFi in 2012 and during his tenure built a function with responsibility for all legal affairs at SoFi and its affiliated entities, helping the company expand its product offering, reach the public markets and establish a national bank charter, among other things. He will continue to serve as a director of SoFi Bank.

Before joining SoFi, Lavet was a partner in the education and litigation groups of law firm Powers Pyles Sutter & Verville. He earlier spent more than 16 years at Sallie Mae, most recently as senior vice president and general counsel.

SoFi CEO Anthony Noto says in a statement: ‘We are thrilled to welcome Stephen to [the company]. His deep experience in financial services – along with demonstrated success as a culture and business leader – make him an excellent fit for SoFi as we pursue our path to becoming a top-10 financial institution.

‘We could not be more grateful to Rob for all of his leadership, wisdom and support in building SoFi into the company it is today. [His] leadership has been critical in helping the company at every major milestone of its existence, having joined as employee #33. Throughout his tenure, Rob has been the gold standard of a SoFi culture carrier, demonstrating our core values in all he does. I will be eternally grateful to Rob as a colleague, a mentor and a friend.’

Ben Maiden

Ben Maiden is the editor-at-large of Governance Intelligence, an IR Media publication, having joined the company in December 2016. He is based in New York. Ben was previously managing editor of Compliance Reporter, covering regulatory and compliance...

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