NEW YORK & TEL AVIV, Israel--(BUSINESS WIRE)--Pagaya, a global financial technology company using artificial intelligence (AI) to reshape asset management, today announced its expansion to the U.S. West Coast with the appointments of Jason Hass as Senior Vice President of Originations and Mike Cannatella as a Vice President of Originations, based in Phoenix and Los Angeles respectively. Hass and Cannatella join Pagaya’s Originations Group, alongside Theo Ellis who came on board in Fall 2019 as a Vice President of Originations at the firm. The expansion signals continuing demand for Pagaya’s data-driven investment strategies, which consistently produce above-market returns for investors.
Led by Benjamin Blatt, Pagaya’s Head of Capital Markets and Originations, the Origination Group is responsible for identifying and establishing asset acquisition channels and strategic partnerships with a focus on consumer industries, 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’re committed to helping lenders navigate this difficult, uncertain time by unlocking more opportunities that would otherwise go untouched," said Blatt. "With Jason and Mike on board, we’re doubling-down on this mandate."
Previously holding senior positions at several fintech firms (including Credit Karma, TrueAccord, and UK-based Aire Labs), Hass brings a wealth of fintech expertise to his role at Pagaya, spanning business development and leadership, partnerships, operations, and 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 ran business development at Finsight before joining Pagaya. As a Vice President of Originations, 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 a Vice President at Pacific Investment Management Company (PIMCO), advising institutional asset allocators. Earlier in his career, he was a consultant at 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 firm has closed six securitizations in the past year, all of which are actively managed by its AI.
Pagaya is a financial technology company reshaping asset management 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 artificial intelligence technologies and state-of-the-art algorithms to deliver a high and scalable performance edge consistently. Founded in 2016 by seasoned finance and technology professionals, Pagaya has grown to over $1.5 billion assets under management and is headquartered in New York and Tel Aviv.