#10 – Rethinking Financial Services for Everyday People | Peter Lorimer

Ventured Growth with Hercules Capital

While working in investment banking, Peter Lorimer (Betterment, OnDeck, Bank of America Merrill Lynch) realized that the financial services being offered to everyday people were fundamentally broken.
This sparked his interest in FinTech, eventually leading him to the FinTech start-up OnDeck. It was while working at OnDeck that Peter first decided he wanted to become the CFO of a FinTech company.
Peter first fell in love with the investing and savings app Betterment as a customer. Fast forward to today, and Peter is now CFO of this fast-growing FinTech Company.
In today's episode of Ventured Growth with Hercules Capital, Catherine Jhung and Peter discuss Peter’s journey from banking to FinTech, what he learned from mentors along the way, insights from OnDeck going public, transitioning to a CFO position, the importance of storytelling as a CFO, and more.
Topics Include:
- Peter’s career path to becoming the CFO at Betterment.
- The transition from investment banking to FinTech.
- Transitioning a private company to a public company.
- Thinking of an IPO as a milestone, rather than a destination.
- Recruiting and retaining great talent.
- What he learned from CFOs like Michael O’Grady.
- And other topics...
Peter Lorimer is the Chief Financial Officer of Betterment, an investing and savings app. Before Betterment, Peter worked as the Senior Manager, Strategic Finance and FP&A at OnDeck. He also worked in investment banking at Bank of America Merrill Lynch. Peter has his BA in Political Science from Duke University and his MBA from Harvard Business School. Peter resides in New York City.
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