Fintech Pagaya expands with executives on the west coast of the USA

Pagaya, an asset management fintech, is expanding its operations on the US west coast with several new executives. According to the company, origination teams in Phoenix and Los Angeles will see the additions from Jason hate as Senior Vice President of Originations and Mike Cannatella as Vice President of Originations based in Phoenix and Los Angeles.

Hass and Cannatella join Pagaya’s Originations Group next door Theo Ellis who came on board in autumn 2019 as Vice President of Originations.

According to Pagaya, the expansion signals “continued demand for Pagaya data-driven investment strategies,” which have apparently produced above-average returns for investors.

Hass has previously worked at Aire Labs, TrueAccord, and Credit Karma.

Cannatella began his career at Moody’s Analytics, where he specialized in credit risk models. He then led business development at Finsight before joining Pagaya.

Ellis joined Pagaya from a software startup he co-founded, Riveted Labs. Prior to entering the tech industry, Ellis was vice president at PIMCO and early career consultant at McKinsey & Company.

Led by Benjamin sheetOrigination Group, Pagaya’s head of Capital Markets and Originations, is responsible for identifying and establishing channels for asset acquisition and strategic partnerships focusing on consumer industries such as credit card receivables, consumer unsecured installment loans, and auto loans. The group is also exploring residential mortgage and home equity credit options.

“We are determined to help lenders navigate this difficult, uncertain time by opening up more opportunities that would otherwise remain untouched,” said Blatt. “With Jason and Mike on board, we’re doubling that mandate.”

Pagaya AI analyzes millions of data points to select and buy individual loans rather than securitizing a pool of pre-assembled assets. Pagaya reports that it completed six securitisations in the past year, all of which are actively managed by its AI.

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