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, who was previously the chief operating officer of Brex Inc., will take over leadership from co-founder Mike Cagney. The two first met at SoFi Technologies Inc., where Cagney was the CEO and Tannenbaum served as the chief revenue officer.
In his new role, Tannenbaum will lead Figure, a financial-services firm specializing in lending products utilizing blockchain technology. Cagney will transition to the role of executive chairman at Figure to support Tannenbaum in his new position. The appointment of Tannenbaum comes at a crucial time for Figure, as the company experiences growth and prepares for a potential initial public offering. His experience in the financial technology sector will be instrumental in leading Figure through this period of expansion. The company looks forward to Tannenbaum’s leadership during this exciting time in its development.