MEM Financial Names Prez/CEO

Mark Elliott McLeod has been named president and chief executive officer of MEM Financial Solutions Inc., a mortgage brokerage based in the Albany suburb of Half Moon, N.Y.Mr. McLeod formed the company, which is licensed in New York and Florida, in June 1999. He describes it as being based on a new corporate model in which 100% of an employee's income is based on production. "If you don't produce, you don't get paid," Mr. McLeod said. "It's very simple -- we do not have mediocre sales people sitting around and receiving a predetermined salary for work they may or may not be doing." Mr. McLeod was formerly employed by UC Lending, Baton Rouge, La., and First United Mortgage Co., Kenilworth, N.J.