Alison Davis
About Alison Davis
Alison Davis, 63, is an independent director at Pagaya Technologies (PGY) since December 2024. She is Chairman and Managing Partner of Blockchain Coinvestors, and previously served as CFO of Barclays Global Investors (now BlackRock) and as a strategy consultant with McKinsey and A.T. Kearney. She holds a BA (honors) and Master’s in economics from Cambridge University and an MBA from Stanford GSB .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Barclays Global Investors (now BlackRock) | Chief Financial Officer | 2000–2003 | Senior finance leadership at world’s largest institutional investment firm |
| Belvedere Capital | Managing Partner | 2004–2010 | Managed a regulated bank holding company/private equity firm focused on U.S. FS |
| McKinsey & Company | Strategy Consultant | 14 years (pre-2000) | Advisor to Fortune 500 CEOs/boards; financial services focus |
| A.T. Kearney | Practice Leader | pre-2000 | Built and led global Financial Services Practice |
| Pacaso (private) | Director; Audit Committee Chair | 2021–2024 | Led audit oversight at proptech company |
External Roles
| Organization | Type | Role | Tenure |
|---|---|---|---|
| Blockchain Coinvestors | Private | Chairman & Managing Partner | Current |
| Kraken | Private | Director | Since 2023 |
| Bitwise | Private | Director | Since 2018 |
| SVB Financial | Public | Director | 2020–2024 |
| Fiserv | Public | Director | 2014–2023 |
| JanusHenderson | Public | Director | 2021–2023 |
Board Governance
- Independence: Determined independent under Nasdaq rules; qualifies as an audit committee financial expert (SEC definition) .
- Committee assignments: Member, Audit & Finance Committee; committee chaired by Avi Zeevi; all members financially sophisticated .
- Attendance: Board held 14 meetings in FY2024; each director attended at least 75% of Board meetings; each committee member attended at least 75% of committee meetings .
- Board leadership: Independent chair (Avi Zeevi); independent directors meet in executive session without management .
Fixed Compensation
| Year | Cash Fees ($) | Stock Awards ($) | Option Awards ($) | All Other ($) | Total ($) |
|---|---|---|---|---|---|
| 2024 | — | 168,000 | — | — | 168,000 |
Director Compensation Structure (current program):
| Component | Amount/Terms |
|---|---|
| Annual cash fee (non-chair) | $40,000 |
| Committee chair fee | +$10,000 (per committee) |
| Chair of Board cash fee | $250,000 |
| Annual equity grant | $300,000 grant date value; vests in equal quarterly installments over one year |
Performance Compensation
| Component | Metrics/Terms |
|---|---|
| Director equity/cash | No performance metrics disclosed for director compensation; structure is fixed cash plus time-vested RSUs |
Other Directorships & Interlocks
- Current: Blockchain Coinvestors (Chairman & Managing Partner); Kraken (Director); Bitwise (Director) .
- Prior public boards: SVB Financial (2020–2024), Fiserv (2014–2023), JanusHenderson (2021–2023) .
- Compensation committee interlocks: None disclosed for the Company; 2024 compensation committee members were independent and no interlocks existed .
Expertise & Qualifications
- Education: BA (honors) and Master’s in economics (Cambridge); MBA (Stanford GSB) .
- Professional expertise: CFO of BGI (now BlackRock); extensive financial services, fintech, audit oversight; audit committee financial expert designation at PGY .
Equity Ownership
| Holder | Class A Shares/RSUs | % Class A | Notes |
|---|---|---|---|
| Alison Davis | 6,250 RSUs vesting within 60 days of March 31, 2025 | Less than 1% | Reported as RSUs vesting within 60 days; beneficial ownership reflected as de minimis |
Policy context:
- Hedging prohibited; pledging requires Board approval (no director/officer may hedge Company securities; pledges subject to approval) .
Governance Assessment
- Strengths: Independent director with deep finance/audit background; Audit Committee member and SEC-defined financial expert; Board operates with independent chair and executive sessions; directors met attendance thresholds; no compensation committee interlocks; formal clawback policy adopted in Nov 2023 under Exchange Act/Nasdaq rules .
- Alignment considerations: Minimal beneficial ownership (6,250 RSUs; <1% of Class A) suggests limited personal economic exposure to PGY performance as of March 31, 2025 .
- Potential red flags: Late Section 16 filings noted for Alison Davis (Form 4 and Form 3 filed Jan 2, 2025 instead of Dec 26, 2024), though company cites multiple late filings across directors/officers in 2024–early 2025; monitor filing discipline .
- Related-party/conflict review: Proxy discloses related transactions involving other directors (e.g., Avi Zeevi/Viola Ventures) but no related-party transactions disclosed involving Alison Davis; hedging prohibited and pledging restricted, reducing alignment risk .