DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/817713
26 MOVERS & SHAKERS Got something to share with us? Send it to Editor@DSNews.com. SUN BANCORP ELECTS DIRECTOR Sun Bancorp, Inc. the holding company of Sun National Bank, announced that the board of directors elected James B. Lockhart III as a Director of the company. Lockhart is also Vice Chairman of WL Ross & Co. LLC, and serves as a Director of Cascade Bancorp and its wholly-owned subsidiary, Bank of the Cascades, Oregon. As such, his election to the board is subject to the approval of the Federal Reserve Board under the Depository Institution Management Interlocks Act, which is pending. Previously, Lockhart served as the Director of Federal Housing Finance Agency and Chairman of its Oversight Board, and Director of its predecessor agency, the Office of Federal Housing Enterprise Oversight. Prior to that, he served as Deputy Commissioner and Chief Operating Officer at the Social Security Administration. In addition to his directorship at Cascade Bancorp, Lockhart serves as a Director of Shellpoint Partners. OCWEN APPOINTS INDEPENDENT MEMBER ON ITS BOARD OF DIRECTORS Ocwen Financial Corporation announced that Robert J. Lipstein was appointed to the company's board of directors as an independent member. e company also increased the size of the board from eight members to nine. Lipstein is a former Partner with KPMG LLP; he also served as the Global IT Partner in charge of business services from 2014 to 2016 and as an Advisory Business Unit Partner in charge for its Mid-Atlantic region from 2009 to 2014. In January, he became a Director at Cross Country Consulting, a privately-held consulting firm that focuses on corporate advisory services. According to Ocwen, Ronald J. Korn, a Director at the company, has informed the board that he will retire from the Director position this May. Upon Korn's resignation, the board will be reduced from nine members to eight. Lipstein will serve on the board until the company's next annual shareholder meeting. PHH ANNOUNCES LEADERSHIP CHANGES PHH Corporation announced that its CFO since 2012, Robert Crowl, will become President and CEO effective on June 28. Crowl succeeds Glen Messina, who will step down as President and CEO and not stand for re-election as a Director. Michael Bogansky, who previously served as SVP, Controller, has been appointed CFO. James Egan, Non-Executive Chairman of the Board of PHH, said "Rob has been an invaluable partner to Glen and the Board in executing our transformation and we are fortunate to have an executive of his caliber available to step into the CEO and Director roles." KBRA ANNOUNCES HEAD OF FINANCIAL INSTITUTIONS GROUP Kroll Bond Rating Agency (KBRA) announced the appointment of Van Hesser to the role of the head of the Financial Institutions group. Founded in 2010, KBRA is a full-service rating agency that provides risk assessment and ratings for the investment community. Hesser is also the Senior Managing Director of the Corporates Group. He previously worked with Wells Fargo Principal Investments, where he led the Financial Institutions sector. Prior to Wells Fargo, he was at HSBC Securities for 10 years, where he served as the Global Head of Credit Keep up with who's doing what and who went where Research and was the Senior Corporate Bond Research Analyst covering U.S. banks, brokers, and specialty finance companies. Hesser has also worked with Credit Suisse First Boston, Goldman Sachs, Salomon Brothers, and the Federal Reserve Bank of New York. M&T ANNOUNCES RE-ORGANIZATION M&T Bank Corporation announced last month that the duties of former President Mark J. Czarnecki, who passed away in February, have been assumed by M&T Bank's three Vice Chairmen, Richard S. Gold, René F. Jones, and Kevin J. Pearson. Gold has been with M&T for 28 years and worked in several business lines before being named Chief Risk Officer (CRO) in 2014. Now, after successfully leading the bank's risk division, he will be moving on from the CRO role and assume responsibility for retail banking, business banking, mortgage and consumer lending and marketing, and he will also maintain his responsibility for the legal division. Jones has been with the bank for 25 years and has held a variety of leadership roles, including CFO for 11 years. In addition to maintaining his duties running Wilmington Trust and the Treasury Division, Jones will now also have responsibility for human resources and M&T's Buffalo Promise Neighborhood initiative. Pearson has been with the bank for 28 years, and he devoted his time to building and enhancing the commercial banking and credit divisions across all of M&T's geographies. In addition to maintaining his duties running the commercial and credit divisions, Pearson will now have responsibility for the technology and banking operations division. Editor's Note: In the March edition of Movers & Shakers we erroneously reported that Ted Tozer was formerly with Taylor, Bean & Whitaker. This was incorrect, as Tozer was never with the company. At Ginnie Mae Tozer played an integral role in ensuring that the mortgage market not only functioned, but kept up with changes following the financial crisis. Our apologies to Mr. Tozer and Ginnie Mae.