Shore Financial Hires New CEO

Shore Financial Services Inc., a wholesale and retail mortgage banking firm based in Birmingham, Mich., has hired Kip Kirkpatrick as its new chief executive officer.

He is currently president and CEO of Kirkpatrick & Co., a merchant banking firm based in Chicago.

Jeffrey Ishbia, chairman of Shore Financial, said, "Kip's proven leadership in financial services and expertise as a successful investor in highly regulated industries will be major assets as we continue building our resources and expanding our national profile."

Kirkpatrick is a co-founding partner of Water Street Healthcare Partners, a leading private equity firm with more than $1 billion of capital under management. He also was involved in the formation of One Equity Partners, the $5.5 billion private equity arm of JPMorgan Chase, where he completed more than $3 billion of transactions.

The company also announced that Kathy Welty is now the chief operating officer of Shore.

Shore Financial Services is the parent of retail lender Shore Mortgage and wholesale lender United Wholesale Mortgage.

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