Patch of Land names new CEO

Online marketplace lender for real estate Patch of Land has named Paul Deitch as its new CEO and promoted Co-Founder Jason Fritton to Executive Chairman.

Mr. Deitch was most recently the Managing Director at Oaktree Capital Management where he was charged with operating infrastructure development. He has also worked at Countrywide, KPMG and Bank of America.

“We are excited to have someone of Paul’s caliber and experience join Patch of Land as we push past $100M in lending activity,” Mr. Fritton said. “Paul brings executive experience from multi-billion dollar companies in both banking and investment management running at scale and has deep experience across a broad range of functions including technology, operations, risk management, product development, marketing, finance and compliance – all of the ingredients we will need as we successfully grow our firm.”

“I am honored to be joining the stellar team at Patch of Land and excited to lead the company’s next phase of growth,” Mr. Deitch said. “We have a huge opportunity in front of us to continue to expand and diversify the firm’s solution-based lending platform, which automates many underwriting processes and offers investors transparent, diversified, and understandable investment choices.”