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Fintech Startup Leap Theory Adds Manatt Consumer Finance Chair

Leap Concept LLC, a startup that delivers analytics technological innovation to economic providers clientele, has recruited a new legislation division chief in Richard Gottlieb.

Gottlieb most not too long ago chaired the nationwide shopper economic companies follow at Manatt, Phelps & Phillips. He worked out of the legislation firm’s places of work in Chicago and Los Angeles, which Gottlieb still left this month to join the management workforce at Leap Concept in its Silicon Beach front headquarters in Santa Monica, Calif. His very first day was Jan. 3.

Organizations operating in the non-classic monetary expert services space have been occupied in latest months recruiting in-home legal leaders. Fintech startups this sort of as Brex Inc., Chime Money Inc., and Finco Products and services Inc., superior recognized as Current, have snapped up attorneys to construct out their authorized and compliance features.

Leap Theory reported in a press launch that Gottlieb will lead its legal and compliance functions, as perfectly as “direct various prepared small business initiatives” associated to purchaser lending and other organization locations.

“Richard is most likely the main lawyer in his industry, and we will rely on him to create on our now compliance-driven functions,” CEO Morgan Gethers explained in a statement. “Richard has huge contacts across the monetary services sector, and we count on him to direct numerous new company ventures as we continue to broaden our functions.”

The organization, launched in 2018, paid out a $25,000 penalty the following 12 months levied by California’s Section of Company Oversight in excess of referral service fees that Leap Theory obtained for lead generation activities.

Gottlieb explained in an e mail that Manatt did not stand for Leap Principle in 2019. The firm previously has a authorized and compliance section, including company counsel Christine Lee and compliance director Kamron King, as effectively as an assistant, which Gottlieb will now lead, he mentioned.

In a sequence of posts to LinkedIn, Gottlieb disclosed that Los Angeles-primarily based Manatt lover Scott Pearson—who joined the company in 2019 from Ballard Spahr—has succeeded him as head of the firm’s customer economical providers apply.

Through his time in personal observe, Gottlieb specialized in dealing with class steps and civil litigation for banking companies and mortgage company providers. Among the his lots of economic solutions purchasers above the decades were PNC Lender NA, Citicorp Credit score Services Inc., and the Unbiased National House loan Corp., a now-defunct bank better known as IndyMac that collapsed at the commence of the 2008 monetary disaster.

The demise of IndyMac, whose assets ended up subsequently offered off to an investor team led by foreseeable future Treasury Secretary Steven Mnuchin, noticed Gottlieb be retained to signify the corporation and other equally situated monetary consumers in subprime mortgage litigation. At the time, Gottlieb was a partner at Dykema Gossett, exactly where he led a 75-law firm group as chair of the firm’s economic business observe.

Gottlieb remaining Dykema in 2013 to be a part of Buckley, a money companies boutique where by he put in nearly 3 a long time right before turning into an fairness associate at Manatt in 2016. He handled litigation, regulatory enforcement, and transactional matters for the West Coastline organization, which Gottlieb aided expand into Chicago.

He’s the most recent financial solutions law firm to go away personal exercise driving for a legal management job in the fintech earth.

Bloomberg Regulation claimed previous thirty day period on recently community on line brokerage TradeZero Holding Corp. choosing previous Distinct Avenue LLC normal counsel Andrew Koslow for the exact in-property placement.

Clear Street, a New York-centered fintech platform for investing computer software, has hired previous Cantor Fitzgerald LP assistant basic counsel Scott Gutmanstein to be successful him as typical counsel. Crystal clear Road also brought on previous Goulston & Storrs corporate associate Kenneth Sicklick final year to be its chief lawful officer.