Laureate Stages Executive Reorg

Laureate Capital has reorganized its executive team, making changes in response to Laureate's "rapid growth since formation in August 1994," according to Thomas Denard, president and CEO of the Charlotte, N.C.-based commercial mortgage banking/servicing firm.In one reassignment, R. Thomas Gracey has been appointed Laureate's executive vice president of loan originations. Mr. Gracey was previously senior vice president and regional director of Laureate's Naples, Indianapolis, Pittsburgh and Harrisburg offices. In another move, Joseph L. Lovell has been appointed senior vice president of loan administration. Mr. Lovell, who was part of the Laureate start-up team in 1994, was previously vice president and manager of treasury management with the company. Also, Mark Hill, senior vice president, has been assigned to lead Laureate's product and asset management team. Mr. Hill was previously in charge of loan administration, Laureate said. Mr. Hill will be implementing a plan to "enhance capital markets executions" in Freddie Mac, Fannie Mae, conduit and credit tenant lease financing, with Laureate's life insurance company delivery network. And Joseph A. Shaffer, senior vice president and chief financial officer, will also manage compliance and risk management in addition to his current responsibilities in account/financial reporting, human systems and information systems.