MBA announces retirement of COO by year's end

The Mortgage Bankers Association's Chief Operating Officer will retire at the end of the year, the company announced Wednesday.

Marcia Davies joined the MBA in 2011 as senior vice president of conference and meetings and chief of staff under former President and CEO David Stevens. She was promoted to chief operating officer in 2014. 

"Her most vital contribution to MBA was her leadership in restoring financial stability to the association," President and CEO Bob Broeksmit said in a press release. "Her legacy in the industry will be the founding and development of mPower, enhancing the ability of thousands of women in our industry to strengthen their networks, conduct more business, and experience personal and professional growth."

In 2016, Davies founded mPower, MBA Promoting Opportunities for Women to Extend their Reach. Under her leadership, the program has expanded to 26,000 members, hosting conferences, webinars, networking events and online opportunities to promote women in the mortgage industry.

As chief operating officer, Davies has been responsible for cross-organizational alignment and implementing initiatives. She serves as the company's lead strategist for external activities as well, managing the public affairs and marketing divisions. Davies also directs the MBA's Conferences, Membership, Education, Information Technology and Office Services divisions.

Prior to the MBA, Davies worked as a senior advisor to the assistant secretary for housing and federal housing commissioner at the U.S. Department of Housing and Urban Development and spent 21 years at Freddie Mac, which the MBA has opposed a merger with, where she held a variety of senior management positions.

In a separate statement, the MBA announced the promotion of three association leaders as part of a restructuring of the functions led by Davies.

Peter Grace, previously senior vice president of membership, education, technology and strategy, was promoted to chief administrative officer and senior vice president of industry education and technology.

Laura Hopkins was promoted to senior vice president of membership and meetings after serving as vice president of membership.

John Mechem, who had been vice president of public affairs, was promoted to senior vice president of public affairs and marketing. 

"MBA is blessed with a strong bench of up-and-coming proven leaders, allowing us to create upward mobility for these three talented individuals already on staff," Broeksmit said.