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Apartment Investment and Management Co., Denver, has announced that Peter Kompaniez will relinquish the title of president as of April 1 in conjunction with AIMCO's plan to hire a chief operating officer this year.The real estate investment trust said Mr. Kompaniez, one of the company's founders, will continue as vice chairman of AIMCO's board of directors and will be involved in various projects. He is the acting head of the Los Angeles Regional Operating Center, with authority over AIMCO's 42 conventional properties in California. AIMCO said Terry Considine, its chairman and chief executive officer, will serve as president pending the completion of the REIT's search for a COO. The company can be found on the Web at http://www.aimco.com.
February 27 -
Champion Mortgage, Parsippany, N.J., has announced the promotion of Steven K. Ives to vice president of organizational performance and project management and of Terri Finnerty to vice president and chief marketing officer.Mr. Ives, a five-year veteran of Champion, will be responsible for overseeing the company's performance and project management initiatives. He previously served as vice president and chief financial officer. Ms. Finnerty, who joined Champion in 2001 as assistant vice president for advertising, will be responsible for leading Champion's marketing efforts and overseeing the activities of Gerbig, Snell/Weisheimer, Champion's recently selected advertising agency. Champion, a division of Cleveland-based KeyCorp, can be found on the Web at http://www.champion.com.
February 26 -
Allen L. Wehrhahn has been named president of Key Mortgage Services, Parsippany, N.J., a newly formed unit of Cleveland-based KeyBank's Consumer Finance group.Mr. Wehrhahn is a veteran of more than 20 years in the financial services industry, and was most recently president of Key Home Equity Services. The new unit includes the home equity services and prime lending groups, which will use a streamlined operations facility, as well as home improvement loans, Secolink Settlement Services, and the consumer loan center, which will continue to operate under their current structure, the bank said. KeyBank, a subsidiary of KeyCorp, can be found online at http://www.keybank.com.
February 25 -
William S. Romney has been appointed chief restructuring officer for the bankrupt Metropolitan Mortgage & Securities Co. Inc., Spokane, Wash.Mr. Romney is a senior director at Alvarez & Marsal, a corporate restructuring, crisis management, and creditor advisory firm. A restructuring committee has been formed, and it includes William Smith, the chief financial officer of Metropolitan and president and CFO of its Summit Securities Inc. subsidiary (also in bankruptcy). Mr. Romney is also a member of the committee, as are Dale Whitney, the president of a number of insurance companies affiliated with Metropolitan, and Metropolitan's legal counsel, Michael Agostinelli and Lynn Ciani. Irv Marcus, who had been serving as chairman, president, and chief executive of Metropolitan since the resignation of C. Paul Sandifur Jr., has himself resigned all posts, including his prior position on the board of directors. In a related move, chief administrative officer Steve Corker has resigned.
February 24 -
Jay Catalfamo has been promoted to vice president of multifamily business operations and division controller at Freddie Mac.Mr. Catalfamo, a veteran of 17 years at Freddie Mac, will fill a vacancy created by the transfer of the division's previous controller, Vic O'Laughlen, to the Financial Accounting and Control Division to assist in Freddie Mac's financial restatements. The government-sponsored enterprise said Mr. Catalfamo will be responsible for managing the financial operations of its Multifamily Division and for overseeing multifamily portfolio accounting and financial and management reporting, among other things.
February 24 -
Eric Spence has been named executive vice president of the wholesale lending division at Countrywide Home Loans, Calabasas, Calif.In this position, he will be responsible for managing production and growth of the company's western division of its wholesale branch system. Most recently, Mr. Spence was executive vice president of home loan production for Washington Mutual, Seattle. There he was responsible for the company's wholesale, retail, and correspondent lending channels as well as its Long Beach Mortgage subprime unit. Prior to that, he was senior vice president of wholesale lending at WaMu and at Stockton, Calif.-based American Savings Bank, which WaMu acquired. Mr. Spence has experience in managing wholesale units with broad product lines, including originating conforming and jumbo adjustable-rate mortgages.
February 24 -
Moises "Moe" Vela Jr., who was the senior adviser on Hispanic affairs to former Vice President Al Gore, has been named chief operating officer and director of marketing at the San Diego-based National Association of Hispanic Real Estate Professionals.Mr. Vela left a "thriving" private consulting practice, Diverse Directions LLC, to join NAHREP, the organization said. Gary Acosta, chairman of the 14,000-member association, said under Mr. Vela's leadership the group hopes to expand its membership and "become a strong lobby in Washington in support of homeownership advocacy for the Latino community." The organization can be found on the Web at http://www.nahrep.org.
February 20 -
Criimi Mae, Rockville, Md., has appointed three new members to fill vacancies on its board of directors, including those created by the resignations of Donald J. MacKinnon and former company chairman William B. Dockser.The new appointees are Glenn J. Rufrano, chief executive officer of Excel Realty Trust; John S. Moody, president of the real estate division of Marsh & McLennan Cos.; and Bruce K. Robertson, a managing partner with Brascan Corp., Toronto. Criimi Mae, a commercial mortgage real estate investment trust, can be found online at http://www.criimimaeinc.com.
February 20 -
Leslie Rahl has been named to Fannie Mae's board of directors to fill the seat vacated when Stephen Friedman resigned to become assistant to the president for economic policy.Fannie Mae said Ms. Rahl will be included on the company's slate of directors and will stand for election at the annual shareholders' meeting in May. Franklin D. Raines, Fannie Mae's chairman and chief executive officer, cited Ms. Rahl's "experience in the financial markets and her understanding of the derivatives markets." Ms. Rahl is the president and founder of Capital Market Risk Advisors Inc., a financial advisory firm that specializes in risk management and capital markets strategy. She previously ran her own consulting firm, Leslie Rahl Associates, which concentrated in swaps, options, and derivative products.
February 19 -
Craig Macnab has been named chief executive officer of Commercial Net Lease Realty Inc., an equity real estate investment trust based in Orlando, Fla.Mr. Macnab succeeds James M. Seneff Jr., who has served as CEO of the REIT since 1992. Mr. Seneff will retain his title of chairman of the board. Mr. Macnab was previously CEO of JDN Realty Corp. in Atlanta. Commercial Net Lease Realty can be found on the Web at http://www.cnlreit.com.
February 18