OnDeck announces CFO transition

Small business online lender OnDeck today announced the appointment of Kenneth (Ken) A. Brause as CFO effective Mar. 26. Mr. Brause replaces Howard Katzenberg, who will serve as an advisor to OnDeck until Apr. 13.

“We are excited to welcome Ken to OnDeck and look forward to benefitting from his financial expertise and proven track record leading sophisticated financial services operations,” said Noah Breslow, OnDeck’s chairman and CEO.

Ken Brause

Mr. Brause, 53, joins OnDeck with more than 30 years of experience in the financial services industry. Most recently he served as EVP and treasurer of CIT Group and CIT Bank. Prior to becoming treasurer, Mr. Brause was CFO for CIT’s North America Banking group with responsibility for overseeing all financial aspects of their commercial services, corporate finance, equipment finance, factoring, and consumer banking.

Earlier in his career, Mr. Brause was the investor relations officer for The Bank of New York and American General Corporation , and served as the vice president of strategy & development at Horizon Blue Cross Blue Shield of New Jersey . After beginning his career at Booz, Allen & Hamilton, Mr. Brause spent 13 years at Bankers Trust in various financial roles. He received his M.B.A. in Finance and Accounting from The University of Chicago Graduate School of Business (now known as the Booth School of Business ) and his B.S. of Economics in Finance and Management from The Wharton School of the University of Pennsylvania.

Mr. Breslow acknowledged Mr. Katzenberg’s efforts.

“We are deeply grateful to Howard for his many contributions to OnDeck over the last decade, including nearly six years as our chief financial officer. Howard has helped position OnDeck for our next phase of growth and profitability and we wish him the best in his future endeavors.”

“The last ten years at OnDeck have been truly remarkable, and I take great pride in the company we’ve built,” Mr. Katzenberg said. “OnDeck’s business is now well positioned to drive significant shareholder value, and I wish Ken much success in his new role.”