Former Barclays Bank UK CEO Ashok Vaswani Joins Pagaya as President

NEW YORK--(BUSINESS WIRE)--Pagaya, a global, data-driven financial technology company reshaping the future of finance, today announced Ashok Vaswani as its President. This additional key hire is a pivotal next step to continue the company’s recent growth and expected ascent to becoming a publicly traded company in June.

“We are excited to welcome Ashok as President of Pagaya. He has a proven track record of building and growing businesses at international scale,” said Gal Krubiner, Pagaya’s Co-founder and CEO. “His values and experience align with Pagaya’s mission to continue empowering banks and financial service providers to deliver access to broader financial products and enable customer engagement through A.I.”

As President, Ashok will leverage his 30+ years of financial services industry expertise to lead all commercial, risk, regulatory, compliance, and legal efforts with current and prospective bank partners. Pagaya remains focused on continuing to onboard bank partners into its network, enabling access to broader financial products for their customers.

“Pagaya is a pioneer in revolutionizing the financial ecosystem by harnessing the power of A.I. and big data,” said incoming President, Ashok Vaswani. “There is a real opportunity to enable not just one financial institution but the entire ecosystem. I am thrilled to join Pagaya and partner with its executive team to drive this change that many of us at traditional institutions have been trying to effect for years.”

Prior to Pagaya, Ashok Vaswani was a member of Barclays Group Executive Team. During his tenure at Barclays, Ashok led the drive to digitize the UK Retail Bank and transformed the consumer and payments businesses. Ashok also served as Barclay’s Chief Executive Officer of consumer banking & payments and Barclays Bank UK. He spent twenty years with Citigroup, and served as their CEO, Asia Pacific.

ABOUT PAGAYA

Pagaya is a financial technology company* working to reshape the lending marketplace, for investors, by using machine learning, big data analytics, and sophisticated AI-driven risk analysis. With its current focus on consumer credit and real assets, Pagaya’s proprietary suite of solutions and pipelines to banks, fintech lenders and others was created to actively find greater value for institutional investors. Pagaya’s models create additional value to that pipeline as well, by increasing liquidity and, in turn, increasing opportunities for access to credit. For more information, please visit www.pagaya.com.

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ABOUT EJFA

EJF Acquisition Corp. is a blank check company sponsored by EJF Capital LLC and affiliates formed for the purpose of partnering with a high-quality financial services business. EJFA’s management team and Board of Directors are composed of veteran financial service industry executives and founders, including Manny Friedman, Chairman, Neal Wilson, Vice Chairman, Kevin Stein, Chief Executive Officer, and Thomas Mayrhofer, Chief Financial Officer. For more information on EJF Acquisition Corp. please visit www.ejfacquisition.com.

*Collectively referred to Pagaya Investments US LLC, an investment adviser and wholly owned subsidiary of Pagaya Technologies Ltd, Israel.

Forward looking Statements

This document includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “could,” “continue,” “expect,” “estimate,” “may,” “plan,” “outlook,” “future” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward looking statements are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward looking statements. These factors include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Agreement and Plan of Merger providing for the business combination (the “Agreement”) and the proposed business combination contemplated thereby; (2) the inability to complete the transactions contemplated by the Agreement due to the failure to obtain approval of the shareholders of EJF Acquisition Corp. (“EJFA”) or other conditions to closing in the Agreement; and (3) other risks and uncertainties indicated from time to time in other documents filed or to be filed with the SEC by EJFA or Pagaya. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Pagaya undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Contacts

For all Pagaya IR inquiries, please reach out to ICR at PagayaIR@icrinc.com
For all Pagaya media inquiries, please reach out to Edelman at Pagaya@edelman.com
For all EJFA media inquiries, please reach out to Nathaniel Garnick/Kevin FitzGerald at Gasthalter & Co. at (212) 257-4170 or pagaya@gasthalter.com

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