Better is turning to a former Goldman Sachs Group Inc. consumer-banking veteran to help it pursue a public listing just as rising interest rates pressure the business already reeling from a slew of personnel gaffes.
The company appointed Harit Talwar as non-executive chairman according to an internal memo. He will provide strategic direction to achieve Better's long-term goals, according to the memo.
The appointment of Talwar comes as Better grapples with hikes in interest rates that weighed on the company's loan volume, leading it to make staff reductions over the past several months. Garg took a break from the company for his handling of the situation after a December round of firings. Better is getting a banking veteran with more than three decades of experience who built and led a consumer lending unit.
The non-executive chairman position was one of the leadership roles the company's board said it would create and fill in the wake of the December firings. The appointment of Talwar follows the hiring of Richard Benson-Armer as chief people, performance, and culture officer. The company is looking for a leader.
It has a track record, but it has challenges. Talwar said in a phone interview that he has always jumped in to situations like this in his career. The goal is to go public.
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