Anthony Noto Leaves Twitter to Become SoFi CEO
Anthony Noto has resigned as Twitter’s chief operating officer to take the top job at Social Finance, the privately held online lender and technology start-up said on Tuesday.
SoFi, as the San Francisco-based company is known, said that Mr. Noto would become chief executive and a director of the company on March 1.
The announcement comes just over four months after Mike Cagney abruptly stepped down as chief executive amid a sexual harassment scandal. Mr. Cagney was accused in a lawsuit of having had inappropriate relationships with company employees and questioned over whether he had skirted risk and compliance controls.
“We are simply thrilled to have found someone of Anthony’s expertise and knowledge to lead SoFi,” Tom Hutton, who has served as interim chief executive, said in a news release. “The SoFi board unanimously agrees that Anthony’s deep understanding of technology, consumer, and financial businesses make him the perfect fit to be SoFi’s C.E.O. We could not be more excited to have someone of his caliber on board.”
Mr. Hutton, who had served as executive chairman, will become nonexecutive chairman, the company said.
SoFi was founded in 2011 and provides loans for students, home buyers and others.
Twitter confirmed Mr. Noto’s departure in a separate announcement on Tuesday.
Mr. Noto has served as chief operating officer of Twitter since November 2016 after joining the company as its chief financial officer in July 2014. Before jointing Twitter, he served as co-head of global tech, media and telecommunications investment banking at Goldman Sachs and as chief financial officer of the National Football League.
“SoFi has a significant opportunity to build on its leadership position in student and personal loans to revolutionize consumer finance and build a next-generation financial services company,” Mr. Noto said in a news release.
Twitter said that Mr. Noto’s responsibilities for the company’s business and revenue-generating operations would be assumed by other members of its leadership team.
“Anthony has been an incredible advocate for Twitter, and a trusted partner to me and our leadership team,” Jack Dorsey, the social media company’s chief executive, said. “On behalf of the entire team, I want to thank Anthony for his passion and his impact, and congratulate him on his new role.”
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