Career moves

Marshall A. Loeb has been named executive vice president and chief operating officer of Glimcher Realty Trust, a real estate investment trust based in Columbus, Ohio.Mr. Loeb, 42, was previously chief financial officer of Parkway Properties, another REIT, and senior vice president and Western regional director for Eastgroup Properties, an industrial REIT. Glimcher can be found on the Web at http://www.glimcher.com.

Fannie Mae's chief legal officer, Thomas E. Donilon, is leaving the troubled mortgage giant to rejoin his former law firm.At month's end Mr. Donilon will become a partner at O'Melveny & Myers. Fannie Mae has not yet named an interim replacement for Mr. Donilon, whose official title at Fannie is executive vice president for law and policy. He joined the company in 1999. A spokeswoman for the government-sponsored enterprise said some of the legal division employees who report to Mr. Donilon will now report to acting chief executive officer Daniel Mudd. During his first run at O'Melveny & Myers, Mr. Donilon specialized in domestic and international litigation and antitrust matters. Fannie is facing a $9 billion to $11 billion downward restatement in earnings dating back to 2001. The company's accounting practices are the subject of investigations being conducted by the Justice Department, the Office of Federal Housing Enterprise Oversight, and the Securities and Exchange Commission. During his career in Washington, Mr. Donilon was also chief of staff to Secretary of State Warren Christopher in the Clinton administration.

Office of Thrift Supervision Director James Gilleran said he will step down April 29 after leading the agency for nearly four years.The surprise announcement comes after Mr. Gilleran revamped the agency's Community Reinvestment Act regulations and forced the other banking regulators to relax their CRA regulations. His actions angered Democrats on Capitol Hill, and 39 congressmen signed an April 12 letter criticizing his unilateral actions to "weaken CRA." During his tenure, Mr. Gilleran pushed through a regulation that prevents state-chartered lenders from using OTS Parity Act regulations to avoid state restrictions on prepayment penalties and late fees. Subprime lenders challenged the OTS's interpretation of the Alternative Mortgage Transaction Parity Act, but the OTS prevailed in federal court. The former California banker and state banking supervisor also eliminated an operating deficit at the OTS by downsizing the agency. Mr. Gilleran has not revealed his plans. "The thrift industry is better for his leadership and service, and the thrift charter is as strong as it ever has been," said Diane Casey-Landry, president of America's Community Bankers. "We wish Jim well in his future endeavors."

Gene Morris has been named executive vice president and Southeast/Midwest regional manager of Metrocities Mortgage, Sherman Oaks, Calif.Mr. Morris will be responsible for managing loan production in the 16-state Southeast/Midwest region, and he will be based in Charlotte, N.C., Metrocities said. Mr. Morris was previously employed for 26 years in the mortgage and banking divisions of Bank of America, most recently as an executive in national direct sales strategy. He also held the titles of national director of retail sales and national sales manager, among others, the company said. Metrocities Mortgage can be found on the Web at http://www.metrocitiesmtg.com.

Glenn Boyd has been named head of mortgage strategy at Barclays Capital, the investment banking division of Barclays PLC, London.Mr. Boyd will be responsible for building a mortgage research team that will support the company's residential mortgage-backed securities business, Barclays Capital said. He will be based in New York. Mr. Boyd was most recently with UBS, where he was a director in the Mortgage Strategy Group, and he was previously in the Mortgage Strategy Group at Credit Suisse First Boston. Barclays Capital can be found on the Web at http://www.barclayscapital.com.

Kevin Gillespie has been named to the newly created post of executive vice president for national Centex homes production at CTX Mortgage Co., a subsidiary of Dallas-based Centex Corp.Mr. Gillespie will oversee all CTX Mortgage branch operations supporting Centex Homes. Mr. Gillespie served most recently as regional executive vice president of the company's West Retail Region. Before joining Centex, his mortgage banking career spanned 18 years and included positions as head of national production with Weyerhaeuser, First Nationwide Bank. and First Gibraltar Savings, CTX Mortgage said. The company can be found on the Web at http://www.ctxmortgage.com.

David Cannon has been named managing director and head of the Collateralized Mortgage Obligation Trading Desk at RBS Greenwich Capital, Greenwich, Conn.Mr. Cannon will be responsible for the structuring and trading of agency and nonagency CMOs, the company said. He has 12 years of experience in the mortgage business, most recently as a CMO trader at UBS. Mr. Cannon previously held similar positions with Chase Manhattan Bank and Paine Webber. RBS Greenwich Capital also announced the addition of Cass Tokarski to the CMO trading desk as a senior vice president. The company can be found online at http://www.gcm.com.

Justin Vedder has been named managing director of PBIS Insurance Services Inc., a subsidiary of The Prieston Group, a San Rafael, Calif.-based company that specializes in mortgage fraud protection, loss mitigation, and indemnification services.Mr. Vedder was previously managing director of client relations at PBIS, the company said. Before joining The Prieston Group last year, he was a co-founder and principal of Platinum Data Solutions, a technology-based company that provides systems for ensuring data integrity in loan origination. The Prieston Group can be found on the Web at http://www.priestongroup.com.

Dean Graham has been named president of the health care and specialty finance business (including mortgage lending) of CapitalSource Inc., Chevy Chase, Md., and Michael Szwajkowski has been named president of the company's structured finance business.Mr. Graham previously held senior executive positions at Heller Healthcare Finance. Among the specialty finance businesses he will lead is CapitalSource Mortgage Finance, a subsidiary that specializes in making loans insured by the Federal Housing Administration, CapitalSource said. Mr. Szwajkowski was a founder and president of Clarity Holdings, a financial services holding company, and previously held senior executive positions for various financial services firms, including Credit Suisse First Boston. CapitalSource's structured finance business comprises several groups, including the Real Estate Group responsible for commercial real estate lending. The company can be found online at http://www.capitalsource.com.

John Button has been appointed chief operations officer of Del Mar Database, San Diego.In a career spanning more than 25 years, Mr. Button has held numerous executive positions at technology companies, most recently as senior vice president of business initiatives for IPS-Sendero, Del Mar said. Previously, he served as business unit president of RF/Spectrum and as a founding partner for a management consulting firm, Business Improvement Specialties. Del Mar Database, which specializes in helping small and medium-sized lenders increase their production and profitability, can be found on the Web at http:// www.delmardb.com.

Randall L. Raup has been named president of HSBC Mortgage Corp. and executive vice president of HSBC Bank USA, Prospect Heights, Ill., pending approval by the bank's board of directors.HSBC said Mr. Raup was previously senior vice president and chief financial officer of HSBC Mortgage, which he joined in August 2004 after 20 years at Household Finance. (In December, Household Finance was merged into Household International Inc., which has changed its name to HSBC Finance Corp.) HSBC-North America, which encompasses all of HSBC's U.S. and Canadian businesses, can be found online at http://www.hsbcusa.com.

Sue Ansel has been named chief operating officer of Gables Residential, a real estate investment trust based in Boca Raton, Fla.Ms. Ansel was previously a senior vice president with responsibility for the company's apartment operations and asset management in the Texas cities of Dallas, Austin, and Houston as well as San Diego and the Inland Empire in California. Before joining Gables, Ms. Ansel was a vice president with The Daseke Group. The apartment REIT can be found on the Web at http://www.gables.com.

Stuart D. Marvin has been named executive vice president in charge of finance, capital markets, and corporate communications at Accredited Home Lenders Holding Co., a nonprime residential mortgage lender based in San Diego.The company said Mr. Marvin will assume many of the responsibilities now held by Accredited's EVP and secretary Ray W. McKewon, the company's co-founder, who has announced that he intends to retire in July. Mr. Marvin was most recently president for corporate operations and chief financial officer with Aegis Mortgage Corp. in Houston. He was previously CFO at Citifinancial Mortgage. Prior to his entry into the mortgage industry, Mr. Marvin was business assurance partner with the Coopers & Lybrand public accounting firm. Accredited can be found on the Web at http://www.accredhome.com.

Michael Fratantoni has been named to the newly created position of senior director for single-family research in the Mortgage Bankers Association's Research and Business Development group.Mr. Fratantoni was most recently director of economic and policy research in Fannie Mae's regulatory policy division. Before that, he was a senior economist in Fannie Mae's credit policy division. The MBA can be found on the Web at http://www.mortgagebankers.org.

Linda P. Henley has been named chief executive officer and head of mortgages for Macquarie Mortgages USA, Memphis.Ms. Henley, a veteran of 28 years in the mortgage lending and real estate industries, was most recently the head of correspondent lending at Chase Home Finance, Macquarie said. She has also held senior positions in retail and wholesale lending. The company can be found on the Web at http://www.macquarie.com.

The Federal Home Loan Bank of Dallas has elected Chesley N. Brooks Jr. as chairman of its board of directors.Mr. Brooks succeeds Fred Miller Jr. as chairman. Mr. Miller retired from the board after serving the maximum allowable three terms.

Eric Sieracki has been promoted to executive managing director and named chief financial officer of Countrywide Financial Corporation.The former CFO, Thomas "Keith" McLaughlin, has elected to step down to focus on personal interests. He has agreed to remain with the company in an advisory role. The changes will become effective on April 1. Countrywide, based in Calabasas, Calif., is the nation’s largest originator and servicer of home loans. The company is located at http://www.countrywide.com on the Internet.

Joseph A. Rossi has been named to the newly created post of senior vice president of securities and Treasury operations at Freddie Mac.Mr. Rossi, 52, will manage operations related to Freddie Mac's mortgage securities issuance and settlement, debt issuance, and settlement, derivative settlement, and asset management, the government-sponsored enterprise said. He will report to Michael C. May, senior vice president of operations. Mr. Rossi was most recently senior vice president, executive director, and chief operations officer for global securities services at Mellon Financial Corp. Before joining Mellon in 2001, Mr. Rossi was senior vice president and business executive for the Strategic Initiatives Group at Chase Manhattan Bank/J.P. Morgan. His appointment at Freddie Mac takes effect March 28.

TIAA-CREF, the New York-based teachers' pension fund manager and commercial real estate lender, has named David Brown its head of commercial mortgages.TIAA-CREF is a large institutional real estate investor with a global portfolio of over $50 billion, according to the company. Working out of the organization's Charlotte, N.C., office, Mr. Brown will oversee the nearly $25 billion portion of the portfolio that is invested in commercial mortgages. Mr. Brown joins TIAA-CREF from Prudential Financial, where he served as the principal and head of Eastern Region originations for their various real estate debt capital sources, the company said.

Andrew McConnell has been named head of pass-through mortgage-backed securities trading in the New York office of BNP Paribas, a European bank.Mr. McConnell was most recently a pass-through MBS trader at RBS Greenwich Capital Markets. He was previously employed by Donaldson, Lufkin & Jenrette and Bear Stearns & Co. The bank can be found on the Web at http://www.bnpparibas.com.