Pagaya announces its expansion on the west coast of the United States

NEW YORK & TEL AVIV, Israel – () – Pagaya, a global financial technology company using artificial intelligence (AI) to reshape asset management, today announced its expansion to the West Coast of the United States with the appointments of Jason Hass as as Senior Vice President of Originations and Mike Cannatella as Vice President of Originations, based in Phoenix and Los Angeles respectively. Hass and Cannatella join Pagaya’s Originations group, alongside Theo Ellis who joined the group in the fall of 2019 as vice president of origins within the firm. The expansion signals continued demand for Pagaya’s data-driven investment strategies, which consistently produce above-market returns for investors.

Led by Benjamin Blatt, Head of Capital Markets and Origination at Pagaya, the Origination Group is responsible for identifying and establishing asset acquisition channels and strategic partnerships with a focus on consumer sectors, such as credit card receivables, unsecured consumer installment loans, and auto loans. The Group is also researching and exploring opportunities in residential mortgages and home equity lines of credit.

“We are committed to helping lenders navigate this difficult and uncertain time by opening up more opportunities that would otherwise remain intact,” said Blatt. “With Jason and Mike on board, we are doubling this mandate.”

Previously holding senior positions at several fintech companies (including Credit Karma, TrueAccord and Aire Labs in the UK), Hass brings to his role at Pagaya a broad range of fintech expertise, spanning business development and leadership, partnerships, operations and the law. Hass will oversee Pagaya’s strategic partnership initiatives.

Cannatella began his career at Moody’s Analytics where he specialized in credit risk models. He then headed business development at Finsight before joining Pagaya. As VP of Origins, Cannatella will be responsible for sourcing and managing Pagaya’s partners.

Focused on project management for Pagaya’s Origination group, Ellis joined Pagaya from the software startup he co-founded, Riveted Labs. Prior to entering the tech industry, Ellis was Vice President at Pacific Investment Management Company (PIMCO), advising institutional asset distributors. Earlier in his career, he was a consultant with McKinsey & Company.

Pagaya’s AI analyzes millions of data points to select and purchase individual loans instead of securitizing a pool of previously assembled assets. The company has completed six securitizations in the past year, all actively managed by its IA.

About Pagaya

Pagaya is a financial technology company redefining asset management by using machine learning and big data analytics to manage institutional money. With a focus on fixed income and alternative credit, Pagaya offers a variety of discretionary funds to institutional investors, including pension funds, insurance companies and banks. Pagaya’s unique technology platform, Pagaya Pulse, runs on a suite of advanced artificial intelligence and algorithm technologies to deliver a high performance advantage and consistently scalable. Founded in 2016 by seasoned finance and technology professionals, Pagaya has reached over $ 1.5 billion in assets under management and is headquartered in New York and Tel Aviv.

About Eric Harris

Eric Harris

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