Residential Capital Corp. chief executive Bruce Paradis will retire on June 1 and be replaced by Jim Jones, who currently serves as the firm's chief operating officer and president.ResCap is the parent company of mortgage giant GMAC Residential. Mr. Paradis, 58, helped create the holding company a few years ago. He has worked for GMAC and its affiliates for 24 years. Late last year, hedge fund Cerberus Capital bought 51% of GMAC.
ResCap CEO Paradis to Retire
April 17, 2007, 2:00 p.m. EDT 1 Min Read
