Higher One taps JPMorgan exec as CEO
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Marc Sheinbaum
New Haven consumer financial services provider Higher One Holdings said it has named Marc Sheinbaum as president and CEO.
Sheinbaum most recently led JPMorgan Chase’s auto and student loan business, where he oversaw more than 5,000 employees. Prior to that, he worked for General Electric’s consumer finance business.
He replaces co-founder Mark Volchek, who will remain on the board of directors. Sheinbaum will also join the board as an additional member.
Sheinbaum’s hiring comes as Higher One faces the prospect of new federal rules that could hurt its revenue, the New Haven Register recently reported.
The company also faces an investigation by the Federal Reserve Bank of Chicago, the Huffington Post reported this month.
Higher One board member Paul Biddelman said in a statement that Sheinbaum’s experience in navigating regulatory matters will be a benefit to Higher One.
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