BEIIJING, March 16, 2017
/PRNewswire/ -- Yirendai Ltd. (NYSE: YRD) ("Yirendai" or the
"Company"), a leading online consumer finance marketplace in
China, today announced the
appointment of Dr. Yichuan Pei as its Chief Credit Officer.
Dr. Pei will be responsible for the overall management of
Yirendai's Credit Department to ensure that the credit risk of loan
portfolio on the Company's platform is within the Company's
guidelines. He will also work closely with the Company's Chief Risk
Officer, Ms. Yiting Pan, to manage
the Risk Management Department. Ms. Yiting
Pan is expected to transit from her current position as
Yirendai's Chief Risk Officer into a new role with CreditEase and
relocate to the U.S. in the middle of 2017 due to personal reasons.
Dr. Pei will take over the full responsibilities of risk management
and assume the Chief Risk Officer position at end of the transition
period.
Dr. Pei brings with him over 26 years of experience in the
financial industry from consumer lending risk management, credit
product marketing management, asset-backed securities valuation in
the United States. Prior to
joining Yirendai, Dr. Pei was Vice General Manager of Ping An Bank in Shanghai, China and Chief Risk Officer of
Knowledge Decision Sciences in San Jose,
California. Previously, Dr. Pei served as Senior or
Executive Vice President at various banks in the United States, including Bank of America,
JP Morgan Chase, Washington Mutual Bank, Providian Financial
Services, and Fleet Boston Bank. Dr. Pei graduated with a Bachelor
of Science degree from the University of Science and Technology of
China, received a PhD from the
Johns Hopkins University in
Baltimore, Maryland, and awarded a
postdoctoral fellowship from Princeton
University in Princeton, New
Jersey.
"Dr. Yichuan Pei is a highly regarded credit expert with
extensive experience in the financial industry. We warmly welcome
him to join our senior management team. With Dr. Pei assuming his
roles as Chief Credit Officer, we are very confident to further
enhance our market leading capabilities of credit underwriting and
risk management," said Ms. Yihan
Fang, Chief Executive Officer of Yirendai. "At the same
time, we would like to express our sincere appreciation to Ms.
Yiting Pan for her outstanding
contribution to our risk management during her tenure. We wish her
all the success for the new role with CreditEase in the U.S."
"Yirendai is a leading financial technology company with proven
track record and strong momentum," added Dr. Yichuan Pei. "I'm
excited to join the team to contribute to its credit risk
management and support its business growth."
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"confident" and similar statements. Such statements are based upon
management's current expectations and current market and operating
conditions, and relate to events that involve known or unknown
risks, uncertainties and other factors, all of which are difficult
to predict and many of which are
beyond Yirendai's control. Forward-looking statements
involve risks, uncertainties and other factors that could cause
actual results to differ materially from those contained in any
such statements. Potential risks and uncertainties include, but are
not limited to, uncertainties as to Yirendai's ability to
attract and retain borrowers and investors on its marketplace, its
ability to introduce new loan products and platform enhancements,
its ability to compete effectively, PRC regulations and policies
relating to the peer-to-peer lending service industry in
China, general economic conditions
in China, and Yirendai's ability
to meet the standards necessary to maintain listing of its ADSs on
the NYSE or other stock exchange, including its ability
to cure any non-compliance with the NYSE's continued listing
criteria. Further information regarding these and other risks,
uncertainties or factors is included
in Yirendai's filings with the U.S. Securities and
Exchange Commission. All information provided in this press
release is as of the date of this press release, and
Yirendai does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law.
About Yirendai
Yirendai Ltd. (NYSE: YRD) is a leading online consumer finance
marketplace in China connecting
investors and individual borrowers. The Company provides an
effective solution to address largely underserved investor and
individual borrower demand in China through an online platform that
automates key aspects of its operations to efficiently match
borrowers with investors and execute loan transactions. Yirendai
deploys a proprietary risk management system, which enables the
Company to effectively assess the creditworthiness of borrowers,
appropriately price the risks associated with borrowers, and offer
quality loan investment opportunities to investors. Yirendai's
online marketplace provides borrowers with quick and convenient
access to consumer credit at competitive prices and investors with
easy and quick access to an alternative asset class with attractive
returns. For more information, please visit
yirendai.investorroom.com.
For investor and media inquiries, please
contact:
Yirendai
Hui (Matthew) Li
Director of Investor Relations
Email: matthewli@yirendai.com
Christensen
In China
Christian Arnell
Phone: +86 (0) 10-59001548
Email: carnell@christensenir.com
In the U.S.
Linda Bergkamp
Phone: +1 (480) 614-3004
Email: lbergkamp@christensenir.com
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SOURCE Yirendai Ltd.