Ron Millar, a trader and senior associate in the capital markets group of Arch Bay Capital, Irvine, Calif., has left the nonperforming loan investing company, according to co-workers and others who do business with the firm.
One Arch Bay official confirmed Millar’s departure but declined to answer questions about the company. Arch Bay’s management has not returned several telephone calls in recent weeks.
Earlier this year Arch Bay was entertaining the thought of selling the company, but then pulled back on the idea.
Last fall Arch Bay scuttled plans to enter the residential origination market after hiring several managers to support the effort.
To date, Arch Bay’s largest known NPL acquisition was a $600 million pool of problem loans it bought from Wells Fargo & Co.
The privately held NPL investor bills itself as “one of the nation’s leading investment firms specializing in the real estate and mortgage industries.”
