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April 04, 2017

Renovate America Announces Appointment of New Chief Financial Officer

New CFO Paige Wisdom served as Chief Enterprise Risk Officer for Freddie Mac; financial services industry executive Roy Guthrie also joins board of directors

SAN DIEGO, April 4 – Renovate America, a leading provider of home improvement financing, announced today the appointment of former Freddie Mac executive Paige Wisdom as Chief Financial Officer.

Wisdom, who served as Chief Enterprise Risk Officer and Executive Vice President at Freddie Mac from 2010 to 2015, is a senior financial services executive with more than 30 years of experience in finance, risk management, and capital markets. In addition to her role at Freddie Mac, Wisdom served as CFO for key business units at Bank of America, including Global Business and Financial Services; Business, Lending, and Global Technology; and Service and Fulfillment. Additionally, she has held leadership positions with Bank One Corporation/J.P. Morgan, and UBS/Swiss Bank. Most recently, she was CFO at Exeter Finance Corp, a specialty consumer auto finance company.

Renovate America also announced that Roy Guthrie, who has spent more than 35 years in the consumer financial services industry, is joining its board of directors. Guthrie presently serves on the board of Synchrony Financial, a $90 billion asset holding company, as the head of the Risk Committee, and is the Lead Independent Director for both OneMain Holding and NationStar Mortgage Holdings. Guthrie served as EVP, from July 2005 to January 2012, and CFO, from July 2005 to May 2011, of Discover Financial Services. He held executive positions with various businesses of Citigroup Inc. from 2000 to 2004, and had roles of increasing responsibility at Associates First Capital Corporation from 1978 to 2000.

Wisdom, whose appointment took effect March 27, succeeds Tom Hemmings as CFO. Hemmings, who has served as CFO since 2011, will be transitioning to an EVP role at Renovate America, focusing on nationwide expansion of the company and continuing to serve in a senior leadership and advisory role.

"With the additions of Paige to our executive team and Roy to our board, we are bringing significant experience to our leadership structure," said CEO J.P. McNeill. "Paige will add capacity across Renovate America, including strengthening the foundation of a PACE platform that has served almost 100,000 homeowners. As a seasoned CFO, she brings strategic, business, and leadership abilities that will reinforce our fiscal and risk integrity and enable our platform to grow nationwide. Roy Guthrie brings an extraordinary resume of leadership across the financial services sector, and will be key to Renovate America’s next stage of growth."

McNeill also thanked Tom Hemmings for helping Renovate America become the company it is today. "Tom has played a crucial role in launching our HERO product, and growing it into the leading PACE financing product in the country," he said.

"I am looking forward to working with the entire Renovate America team to build on its success helping property owners make investments that save energy or water," said Wisdom. "It’s an exciting time to be joining the company as it continues to grow the world’s largest green bond platform and expand its home improvement finance offerings into new markets."

Wisdom holds a Master of Business Administration from The University of Chicago's Booth School of Business and a Bachelor of Science in math and computer science from the University of Illinois, Chicago.

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About Renovate America

Renovate America offers a tech-enabled financing platform for home improvement and commercial retrofits that empowers communities to modernize and make their housing stock more efficient, while giving small businesses the tools they need to grow. In addition to financing home improvements through an unsecured lending product, Benji, Renovate America offers communities the HERO Program. HERO is the leading residential Property Assessed Clean Energy (PACE) program in the U.S. and has financed more than $2.25 billion of home improvements in partnership with local governments. It is estimated that HERO is on track to save nearly $3.7 billion in energy and water bills, and has created over 19,000 local jobs that cannot be offshored or automated. Renovate America has built the world’s largest green bond platform, with a volume of originations that enables securitization of HERO PACE bonds multiple times a year, attracting international investment to meet U.S. clean-energy objectives.