NewtekOne, Inc. Hires Ron Lay as Chief Technology Officer at NewtekOne, Inc. and Newtek Bank, N.A.

Rhea-AI Summary

NewtekOne (NASDAQ: NEWT) has appointed Ron Lay as Chief Technology Officer for both NewtekOne and Newtek Bank. Lay brings 20 years of experience in technology, digital strategy, and risk compliance within banking and financial services. His previous roles include Managing Director at Investia Software Solutions and Global Head of Wholesale IT Digital at HSBC, where he led a team of 3,500 people managing systems processing over $18 trillion in annual payments. Earlier, he held senior positions at JP Morgan Chase, Deutsche Bank, Lloyds Banking Group, and Charles Schwab.

Positive

• Appointment of seasoned technology executive with 20 years of experience in banking and financial services
• Strong leadership background managing large-scale operations (3,500-person team at HSBC)
• Extensive experience with high-volume payment processing systems ($18 trillion annually at HSBC)

Negative

• None.

News Market Reaction

-0.31%

1 alert

-0.31% News Effect

On the day this news was published, NEWT declined 0.31%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

BOCA RATON, Fla., Nov. 04, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT) announced today that it has hired Mr. Ron Lay as Chief Technology Officer at NewtekOne, Inc. and Newtek Bank, N.A.

Mr. Lay comes to the Company with 20 years of experience with focus on technology, digital strategy, and risk and compliance within the banking and financial services sectors. Most recently, Mr. Lay was a Managing Director at Investia Software Solutions where he provided technical and consulting services to top-tier consultancies and financial services groups. Prior to this position, Mr. Lay was Managing Director, Global Head of Wholesale IT Digital at HSBC, London, where he led a global team of over 3,500 individuals, delivering digital channels and services for wholesale banking, and was responsible for the oversight of the bank's flagship digital systems, API channels, and interfaces to core transactional systems, processing over $18 trillion of payments annually. Prior to HSBC, Mr. Lay was a Managing Director, Digital Technology at JP Morgan Chase & Co. where he was responsible for customer and user experience, software design, system architecture, development, delivery, maintenance, and support within the digital landscape. Earlier in his career, he held senior leaderships positions in technology at Deutsche Bank, Lloyds Banking Group and Charles Schwab & Co. Ron holds a Bachelor of Science from the University of California, Berkeley.

Barry Sloane, CEO, President, and Chairman commented, “We could not be more pleased with the opportunity to acquire the talents of Ron Lay. It is extremely difficult to find the highest level of talent in the banking and financial services community that also has the entrepreneurial spirit and willingness to develop and innovate, which we believe will help us further innovate the NewtekOne platform. With a constant focus on security and regulatory compliance, we will continue the Company’s development as a true technology-enabled enterprise that offers its customers a suite of business and financial solutions, including state-of-the-art payment processing solutions with instant and direct payments, and depository solutions. We believe that Ron has the unique skill set and attributes to manage our technology needs and help keep all our data safe and secure. We welcome Ron and look forward to working with him.”

About NewtekOne, Inc.

NewtekOne^®, Your Business Solutions Company^®, is a financial holding company, which along with its bank and non-bank consolidated subsidiaries (collectively, “NewtekOne”), provides a wide range of business and financial solutions under the Newtek^® brand to independent business owners. Since 1999, NewtekOne has provided state-of-the-art, cost-efficient products and services and efficient business strategies to independent business owners across all 50 states to help them grow their sales, control their expenses and reduce their risk.

NewtekOne’s and its subsidiaries’ business and financial solutions include: banking (Newtek Bank, N.A.), Business Lending, SBA Lending Solutions, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing, Insurance Solutions, Web Services, and Payroll and Benefits Solutions.

Newtek^®, NewtekOne^®, Newtek Bank^®, National Association, Your Business Solutions Company^®, One Solution for All Your Business Needs^® and Newtek Advantage are registered trademarks of NewtekOne, Inc.

Note Regarding Forward-Looking Statements
Certain statements in this press release are “forward-looking statements” within the meaning of the rules and regulations of the Private Securities Litigation and Reform Act of 1995 are based on the current beliefs and expectations of NewtekOne's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. See “Note Regarding Forward-Looking Statements” and the sections entitled “Risk Factors” in our filings with the Securities and Exchange Commission which are available on NewtekOne's website (https://investor.newtekbusinessservices.com/sec-filings) and on the Securities and Exchange Commission’s website (www.sec.gov). Any forward-looking statements made by or on behalf of NewtekOne speak only as to the date they are made, and NewtekOne does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

SOURCE: NewtekOne, Inc.

Investor Relations & Public Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / jcavuoto@newtekone.com

FAQ

Who is the new CTO of NewtekOne (NEWT) in 2024?

Ron Lay has been appointed as Chief Technology Officer of NewtekOne (NEWT) and Newtek Bank in 2024. He brings 20 years of experience in technology and digital strategy within banking and financial services.

What was Ron Lay's role at HSBC before joining NewtekOne (NEWT)?

Before joining NewtekOne, Ron Lay was Managing Director, Global Head of Wholesale IT Digital at HSBC, London, where he led a 3,500-person team managing digital channels and services for wholesale banking, overseeing systems processing over $18 trillion in annual payments.

What are NewtekOne's (NEWT) plans for technology development with the new CTO?

NewtekOne plans to further innovate its platform with a focus on security and regulatory compliance, developing technology-enabled business and financial solutions, including state-of-the-art payment processing and depository solutions.