ResCap Names CEO, COO

Published October 20, 2005, 2:00 p.m. EDT

1 Min Read

Bruce Paradis has been named chief executive officer of Residential Capital Corp., Minneapolis, and David Applegate has been named chief operating officer of ResCap and president of the company's U.S. Residential Finance Group.Mr. Paradis, who has more than 30 years of experience in the real estate finance industry, has served as GMAC-RFC's CEO since 1994. (ResCap is the recently formed parent company of GMAC Mortgage and Residential Funding Corp., also known as GMAC-RFC.) ResCap said Mr. Applegate, who previously shared CEO duties with Mr. Paradis, will have direct responsibility for the company's U.S. residential real estate finance segments: the Residential Capital Group and GMAC Residential.

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