Michael Tannenbaum has been appointed as the new chief executive officer of Figure Technology Solutions Inc. in preparation for the company’s potential initial public offering. Tannenbaum, a former chief operating officer at Brex Inc., will replace co-founder Mike Cagney who will transition to the role of executive chairman to support Tannenbaum in his new position. The two first met at SoFi Technologies Inc., where Cagney was CEO and Tannenbaum served as the chief revenue officer.
In his new role, Tannenbaum will lead Figure, a financial services firm that specializes in lending products utilizing blockchain technology. As a seasoned executive with extensive experience in the financial technology sector, he will be instrumental in guiding the company through its growth period and preparing for an IPO. Cagney’s appointment as executive chairman will enable him to continue supporting the company while also providing guidance and expertise to help Tannenbaum succeed in his new position.
The appointment of Tannenbaum marks a significant milestone for Figure as it continues to grow and prepare for potential future growth opportunities. With his leadership skills and knowledge of the financial technology industry, he is well positioned to lead the company through this exciting time in its development.