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OppFi Appoints Manuel Chagas as Chief Operating Officer, Shaun Smolarz as Head of Investor Relations
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
OppFi Inc. (NYSE: OPFI) has appointed Manuel Chagas as Chief Operating Officer and Shaun Smolarz as Head of Investor Relations. Chagas will oversee operations and banking partnerships, aiming for improved productivity and employee engagement. He brings valuable experience from Discover Financial Services. Smolarz, with over a decade in capital markets, will enhance investor relations and expand analyst coverage. Both appointments are expected to bolster OppFi's growth strategy and shareholder value.
Positive
Manuel Chagas' expertise in improving customer interactions and operational efficiencies could lead to increased loan origination and productivity.
Shaun Smolarz's background in capital markets may enhance OppFi's investor relations and analyst coverage, potentially increasing investor interest.
Negative
Management transitions may pose risks related to continuity and execution of business strategies.
CHICAGO--(BUSINESS WIRE)--
OppFi Inc. (NYSE: OPFI) ("OppFi” or the “Company”), a leading financial technology platform that powers banks to help the everyday consumer gain access to credit, today announced the appointments of Manuel (“Manny”) Chagas as Chief Operating Officer and Shaun Smolarz as Head of Investor Relations.
In his role as Chief Operating Officer, Chagas will manage OppFi's people team, operations functions, and banking partnerships to attain greater productivity as well as optimize employee and customer experiences.
“We are fortunate to add Manny to our senior leadership team,” said Todd Schwartz, Chief Executive Officer and Executive Chairman of OppFi. “He has an impressive track record of improving call center and digital platform customer interaction, driving loan origination volume, and realizing operational efficiencies. We believe Manny will help us enhance employee engagement, gain market share, and achieve stronger profitable growth.”
Prior to joining OppFi, Chagas spent eight years at Discover Financial Services in various leadership roles, which included managing product, marketing, and operations for its student loans business. Earlier in his career, he served as a consultant at McKinsey & Company and Accenture. Chagas earned his Master of Business Administration from the University of Chicago Booth School of Business, Master of Science from the London School of Economics and Political Science, and Bachelor of Arts from the University of California, Los Angeles.
In the newly created Head of Investor Relations position for OppFi, Smolarz will lead the strategy and execution of OppFi’s investor relations function, craft the Company’s story and financial communications, and strengthen its relationships with analysts and investors.
“Shaun is an accomplished capital markets professional in equity research, investment management, and investor relations,” continued Schwartz. “We believe his expertise will be invaluable to OppFi, as we seek to expand our analyst coverage and investor base. We are focused on maximizing value for all shareholders, and therefore we are committed to building a best-in-class investor relations program. We look forward to engaging with current and prospective investors more frequently, so that our growth strategy and competitive differentiation are clearly understood.”
Smolarz brings more than 10 years of capital markets experience to OppFi, including most recently as the portfolio manager for a family office. Previously, he served as a senior analyst on the buy-side at SkyTop Capital Management, an analyst on the sell-side at Sidoti & Company, and an executive at two investor relations firms. Smolarz began his career at Lehman Brothers in its capital markets analyst training program. He earned his Master of Business Administration with distinction from the Stephen M. Ross School of Business at the University of Michigan and Bachelor of Science cum laude from Northwestern University.
About OppFi
OppFi (NYSE: OPFI) is a leading financial technology platform that powers banks to help the everyday consumer gain access to credit. Through its unwavering commitment to customer service, the Company supports consumers, who are turned away by mainstream options, to build better financial health. In 2021, OppFi was recognized by the Deloitte North America Technology Fast 500 for the fourth consecutive year. OppFi maintains a 4.7/5.0 star rating on Trustpilot with more than 2,700 reviews and an A+ rating from the Better Business Bureau (BBB), making the Company one of the top consumer-rated financial platforms online. For more information, please visit oppfi.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. OppFi’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," “possible,” "continue," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, without limitation, OppFi’s expectations with respect to the future performance of OppFi’s platform and OppFi’s expectations for its growth. These forward-looking statements are based on OppFi’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside OppFi’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the impact of COVID-19 on OppFi’s business; the impact of stimulus or other government programs; whether OppFi will be successful in obtaining declaratory relief against the Commissioner of the Department of Financial Protection and Innovation for the State of California; whether OppFi will be subject to AB 539; whether OppFi’s bank partners will continue to lend in California and whether OppFi’s financing sources will continue to finance the purchase of participation rights in loans originated by OppFi’s bank partners in California; the risk that the business combination disrupts current plans and operations; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of OppFi to grow and manage growth profitably and retain its key employees; risks related to new products; concentration risk; costs related to the business combination; changes in applicable laws or regulations; the possibility that OppFi may be adversely affected by other economic, business, and/or competitive factors; risks related to management transitions; and other risks and uncertainties indicated from time to time in OppFi’s filings with the United States Securities and Exchange Commission, in particular, contained in the section or sections captioned “Risk Factors.” OppFi cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. OppFi does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
