Prosper is hiring a Vice President, Institutional Lender Development. Job description:
As Vice President of Institutional Lender Development you will be responsible for ensuring Prosper has an adequate supply of liquidity. You will need to create an institutional sales process that identifies institutional prospects and sells them on the benefits of lending on Prosper. The position will also be responsible for developing strategies and structures that match the risk and return preferences of prospective lenders. This position will have an attractive incentive compensation plan dependent on meeting goals for institutional lender growth and marketplace liquidity.
This is an interesting development. First, if successful, it will scale up volume. Secondly, at least on the lender side, this step dilutes the peer to peer aspect of the marketplace.