OneMain Holdings, Inc. Names Doug Shulman President and Chief Executive Officer

OneMain Holdings, Inc. (NYSE: OMF) announced today that Doug Shulman
will become its next President and Chief Executive Officer. Shulman
succeeds Jay Levine who will remain Chairman of the Board. Shulman is
also expected to be appointed to OneMain’s Board of Directors upon his
start date, which is expected to occur within the next 60 days.

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OneMain Holdings, Inc. Names Doug Shulman President and Chief Executive Officer (Photo: Business Wire)

“Doug is a proven executive and uniquely capable of leading OneMain into
its next chapter. His experience managing large, complex organizations
and leveraging technology to drive innovation, as well as his ability to
work across a diverse group of constituencies will be invaluable in
helping OneMain position the business for the long-term,” said Mr.
Levine.

“I want to thank the board for their confidence in me as the next leader
of this outstanding company and its more than 10,000 team members. I
look forward to continuing OneMain’s commitment to providing
best-in-class products and service to its customers and taking that
commitment to the next level,” said Mr. Shulman.

Shulman has had a distinguished career in the private and public
sectors. He joins OneMain from BNY Mellon, where he had been a Senior
Executive Vice President and Global Head of Client Service Delivery, and
a member of the Executive Committee. At BNY Mellon he was responsible
for key business operations and service delivery areas that help clients
conduct business, service assets, and engage in transactions in 35
countries and more than 100 markets. Prior to that, Doug was a Senior
Advisor with McKinsey & Company, where he advised clients in a variety
of areas including the public sector and financial services.

From 2008 to 2012 Shulman served as the Commissioner of the Internal
Revenue Service, where he was responsible for setting strategy and
managing diverse stakeholders. During his tenure at the IRS, he
transformed technology by modernizing the IRS’s core account database,
used data and analytics to improve service and compliance, led global
coordination of government tax authorities, led historic breakthroughs
in addressing international tax evasion and executed key policy
imperatives. Before the IRS, Shulman was Vice Chairman of the Financial
Industry Regulatory Authority (FINRA) and its predecessor NASD, where he
played a pivotal role in a number of significant industry-transforming
initiatives including creating transparency in the US corporate bond
market, divesting the Nasdaq Stock Market and American Stock Exchange,
modernizing NASD technology and leading entry into new market segments.
Earlier in his career, Shulman was Vice President at Darby Overseas
Investments, a private investment firm and was also a part of the
original team that launched Teach for America, a national teachers corps
that places teachers in low-income communities.

Shulman holds a JD, magna cum laude from Georgetown Law Center, an MPA
from the John F. Kennedy School of Government at Harvard University, and
a BA from Williams College.

About OneMain Holdings, Inc.

OneMain Holdings, Inc. (NYSE: OMF), through its subsidiaries, has been
offering responsible and transparent loans for over 100 years. With more
than 1,600 locations throughout 44 states, the company is committed to
helping people with their financial needs. OneMain and its 10,000 team
members are dedicated to the communities where they live and work. For
additional information, please visit OneMainFinancial.com.

Forward Looking Statements

This press release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are not statements of historical fact but
instead represent only management’s current beliefs regarding future
events. By their nature, forward-looking statements involve inherent
risks, uncertainties and other important factors that may cause actual
results, performance or achievements to differ materially from those
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obligation to publicly update or review any forward-looking statements,
whether as a result of new information, future developments or
otherwise, except as required by applicable law.

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